New Delhi, May 30: Precious metal prices witnessed a marginal increase in early trading on Saturday, with both gold and silver recording gains in domestic markets.
According to market data, the price of 24-carat gold rose by ₹10 to reach ₹1,57,650 per 10 grams. Meanwhile, 22-carat gold also gained ₹10, trading at ₹1,44,510 per 10 grams.
Among major cities, 24-carat gold was priced at ₹1,57,650 per 10 grams in Mumbai, Kolkata, and Hyderabad, while Chennai reported a higher rate of ₹1,59,290. In Delhi, the same quantity of gold was selling at ₹1,57,800.
For 22-carat gold, prices stood at ₹1,44,510 per 10 grams in Mumbai, Kolkata, Bengaluru, and Hyderabad, while Chennai recorded a rate of ₹1,46,010. In Delhi, 22-carat gold was available at ₹1,44,660 per 10 grams.
Silver prices also moved higher, rising ₹100 to ₹2,80,100 per kilogram in Delhi, Mumbai, and Kolkata. In Chennai, silver was trading at ₹2,90,100 per kilogram.
In the international market, gold prices extended gains for a second consecutive session after reports suggested that the United States and Iran may have agreed to extend their ceasefire arrangement. However, analysts noted that the metal remains on track for a monthly decline amid concerns over inflation and expectations of higher interest rates.
Spot gold rose 0.6 per cent to $4,519.64 per ounce, while US gold futures for August delivery gained 0.4 per cent to $4,550. Spot silver increased 0.7 per cent to $76.17 per ounce. Platinum and palladium also recorded modest gains.
Market observers said gold demand in India remained subdued due to elevated prices and import duties, while buying sentiment in China remained cautious.