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Gold became more expensive in early Friday trading by Rs 700 per 10 grams with 24 carats of the yellow metal trading at Rs 51,380. The price of silver, on the other hand, rose by Rs 1,900 per kg at Rs 56,500 on Friday.
Meanwhile, 10 grams of 22 karat gold is trading at Rs 47,100 today after rising by Rs 650.
In Mumbai and Kolkata, 24 karat gold sells for Rs 51,380 for 10 grams, while 10 grams of 22 karat gold sells for Rs 47,100 in the respective cities. In Delhi, the 24 carats and 22 carats of the yellow metal are trading at Rs 51,550 and Rs 47,250 per 10g.
In Chennai, 10 grams of 24 karat and 22 karat gold are currently trading at Rs 52,000 and Rs 47,670, respectively.
In Mumbai, Delhi and Kolkata, one kg of silver is selling at Rs 56,500. While one kg of silver in Chennai, Bengaluru and Hyderabad is trading at Rs 61,200 on Friday.
Spot gold was flat at $1,755.59 an ounce at 0045 GMT. U.S. gold futures edged up 0.1% to $1,752.70 an ounce.
Gold is on track for its best week since mid-May, with prices up 1.6% so far. However, bullion is unlikely to avoid a fourth consecutive monthly decline, its worst streak of losses since November 2020.
Spot silver strengthened 0.2% to $20.01 an ounce.
Uncertainty over the economic outlook, a higher import duty and the possibility of further restrictions on the purchase of gold, even if for temporary and tactical reasons with an eye on the rupee-dollar exchange rate are a few -one of the reasons, according to WGC, which will keep the demand for jewelery in India in check.
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