Gold and Silver remain unchanged in today’s trading; yellow metal at Rs 52,530

Gold and silver prices were flat in early trading on Monday as 10 grams of the yellow metal (24 carats) traded at Rs 52,530. Silver is now sold at Rs 59,300 per kg.

Ten grams of 22-karat gold is trading at Rs 48,150 on Monday.

In Mumbai and Kolkata, 24-karat gold has been selling for 52,530 rupees per 10 grams, while 22-karat gold is trading at 48,150 rupees in the respective cities. In Delhi, 24 carats and 22 carats of the yellow metal were trading at Rs 52,690 and Rs 48,300 per 10g on Monday.

In Chennai, 24k and 22k gold are trading at Rs 52,610 and Rs 49,140 respectively.

Gold prices slipped Monday, weighed down by a US dollar recovery and expectations of more rate hikes by the Federal Reserve to curb high inflation. Spot gold fell 0.4 percent to $1,794.78 an ounce (0352 GMT) after rising about 1.6% last week. US gold futures fell 0.3 percent to $1,810.

Although gold is viewed as a hedge against inflation, higher US interest rates weaken the attractiveness of non-profitable precious metals.

In Mumbai, Delhi and Calcutta a kg of silver sells for 59,300 rupees. While a kg of silver is trading at Rs 64,800 in Chennai, Bengaluru and Hyderabad on Monday.

Spot silver fell 1 percent to $20.61 an ounce.

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