Early on Wednesday, gold prices decreased by Rs 100 from the previous day’s rate, with 10 grammes of 24-carat yellow metal selling for Rs 51,980. The price of 10 grammes of 22-carat gold has decreased by Rs 100 to Rs 47,650.
Contrarily, the price of silver, which is selling at Rs 61,000 per kilogramme, remained unaltered in Wednesday’s early session.
Bond investors have suffered as a result of a series of unexpected moves made by some of the biggest central banks in the world to curb spiralling inflation. Investors are now urging authorities to act quickly to put an end to the uncertainty in a rising chorus.
Even though bullion is sometimes seen as an inflation hedge, owning gold, which returns nothing, has a larger opportunity cost due to rising interest rates and bond yields.
In Delhi, Kolkata, and Bangalore, ten grammes of 24-carat gold cost Rs 52,010. While 10 grammes of 22-carat gold are being sold in Delhi, Kolkata, and Bangalore for Rs 47,680. 10 grammes of 24- and 22-carat gold are now selling in Chennai for Rs 52,090 and Rs 47,750, respectively.
Silver is currently being sold for Rs 61,000 per kilogramme in Delhi, Mumbai, and Kolkata. One kilogramme of silver is now selling for Rs 66,300 in Chennai, Bengaluru, Hyderabad, and Kerala.