Gold trading at Rs 51,980 per 10 gram; Silver down by Rs 300 per kg

on Wednesday remained unchanged in early trade, with 10 gram of the precious metal (24-carat) trading at Rs 51,980, and 10 gram of 22-carat gold trading at Rs 47,650. Silver prices declined on Wednesday by Rs 300, with the metal trading at Rs 60,000 per kg.

Meanwhile, in the US, were hemmed in a tight range on Tuesday as prospects of higher interest rates challenged bullion’s safe-haven appeal while recession risks boosted it.

Spot gold edged 0.1 per cent lower to $1,820.31 per ounce by 2:09 p.m. ET (1809 GMT) and spot silver fell 1.5 per cent to $20.82 per ounce. US gold futures settled down 0.2 per cent at $1,821.2

In Delhi, Kolkata, and Bangalore, 10 gram of 24-carat gold is trading at Rs 51,980, according to the goodreturns website. Meanwhile, 10 gram of 22-carat gold is selling at Rs 47,650 in Delhi, Kolkata, and Bangalore.

Prices of both 24-carat and 22-carat gold per 10 gram in Chennai are trading slightly higher at Rs 52,030 and Rs 47,700, respectively on Wednesday.

A kg of silver is trading at Rs 60,000 in cities like Delhi, Mumbai, and Kolkata, whereas, 1 kg of silver is selling at Rs 65,600 in Chennai.

(With inputs from Reuters)

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