During early trade on Saturday, the price of 24-carat gold surged by Rs 230, reaching Rs 63,230 for ten grams, according to the GoodReturns website. Simultaneously, silver prices climbed by Rs 300, reaching Rs 79,500 per kilogram.
The upward trend continued for 22-carat gold, witnessing a rise of Rs 250 to reach Rs 58,000 for ten grams.
Notable regional price points for ten grams of 24-carat gold include Mumbai, Kolkata, and Hyderabad, all standing at Rs 63,230. Meanwhile, in Delhi, Bengaluru, and Chennai, prices were recorded at Rs 63,380, Rs 63,230, and Rs 63,550, respectively.
For 22-carat gold in Mumbai, prices matched those in Kolkata and Hyderabad at Rs 58,000. In Delhi, Bengaluru, and Chennai, the respective prices were Rs 58,100, Rs 58,000, and Rs 58,600 for ten grams.
In the global market, US gold marked a more than two-week high, rising for a second consecutive week due to expectations of an early Federal Reserve interest rate cut. Spot gold reached $2,052.69 per ounce, a 0.4% increase, on course for a 1.7% weekly gain. US gold futures settled 0.9% higher at $2,069.1.
Silver experienced a 1.2% fall to $24.12 per ounce, while platinum rose by 0.7% to $969.67, its highest since Sept 1. Palladium, on the other hand, dropped 0.9% to $1,202.46 after hitting its highest since Oct 2 earlier.
In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 79,500, while in Chennai, it stands at Rs 81,000.
