Gold prices today remained stable at Rs 53,350 per 10 gm, while silver was trending at Rs 62,000 per kg, according to the Good Returns website.
Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.
In New Delhi, the price of 22-carat gold remained at Rs 49,400 per 10 gm, and in Chennai, it climbed to Rs 48,450. In Mumbai, the rate was Rs 49,420 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 52,850 per 10 gm.
On the MCX, October gold futures jumped 0.20 per cent to Rs 50,526 per 10 gm, while silver December futures were at Rs 60,571 per kg.
Gold prices rose by Rs 454 to Rs 51,879 per 10 gram in the national capital on Tuesday amid rupee depreciation, according to HDFC Securities. The precious metal had closed at Rs 51,425 per 10 gram in the previous trade. Silver prices also jumped Rs 751 to Rs 63,127 per kilogram from Rs 62,376 per kilogram in the previous trade.
"Spot gold prices for 24 carat in Delhi were up Rs 454 amid rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said. The rupee pared initial gains and settled for the day 17 paise lower at 73.46 (provisional) against the US dollar on Tuesday.
In the international market, gold was trading marginally lower at USD 1,910 per ounce, while silver was quoting flat at USD 24.25 per ounce.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU