The price of 10 gm of 22-carat gold slipped by Rs 420 on Wednesday to trade at Rs 46,960. Silver was selling at Rs 67,600 per kg, down Rs 250 compared to yesterday, according to the website Good Returns.
Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.
In New Delhi, the price stands at Rs 47,050 per 10 gm. For Mumbai, the yellow metal is selling at Rs 46,960, while, in Chennai, it is at Rs 45,330, according to the website.
The rate of 24-carat gold stood at Rs 47,960 per 10 gm, down Rs 420 compared to yesterday.
In the global market, on Tuesday, gold prices edged lower, as traders stayed on the sidelines in advance of US jobs data due later this week that could influence the timeline of when the Federal Reserve cuts back on its asset purchase programme, Reuters reported.
Spot gold fell 0.2% to $1,809.79 per ounce by 1:55 p.m. EDT (1755 GMT), while US gold futures settled 0.4% lower at $1,814.10.
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