Gold prices in India on Wednesday fell to Rs 97,790 per 10 grams as of 6:45 a.m. after being Rs 98,010 per 10 grams on Tuesday around the same time.
Most metros too saw a slight decline in their gold rates. The price in Delhi was Rs 97,440 on Wednesday after being Rs 97,660 per 10 grams on Tuesday. Similarly, the price of gold in the financial capital was Rs 97,610 per 10 grams; in Bangalore, it was Rs 97,690 per 10 grams; and Kolkata's gold prices stood at Rs 97,480 per 10 grams. The price for the precious commodity was the highest in Chennai, trading at 97,890.
Gold prices saw some recovery in the US market, with gold trading at $3,387.90 a tonne.
Silver
Silver has been trading beyond the 1 lakh mark; on Wednesday its price climbed to Rs 101,530 per kg after being Rs 101,300 per kg on Tuesday. The commodity has crossed the Rs 1 lakh mark multiple times in the past couple of months, as per the India Bullion Association. Strong industrial demand for silver, fuelled by its importance in renewable energy technologies and electronics, has been driving the surge.
In the US, the silver rate was $34.77 an ounce.
Futures
Gold futures for Aug. 5 were trading flat at Rs 97,720 per 10 grams, while silver futures saw a decline of 0.02% to stand at 1,01,198 per kg.
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