Gold prices today fell to 54,440 from Rs 55,200 per 10 gram a day before, while silver jumped to Rs 66,300 from Rs 65,500 per kg, according to Good Returns website.
Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.
In New Delhi, the price of 22-carat gold jumped to Rs 49,900 per 10 gram, and in Chennai to Rs 49,240. In Mumbai, the rate was Rs 50,400, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 53,720 per 10 gm.
On MCX, October gold futures jumped by 1.07 per cent to Rs 51,448 per 10 gram. Silver September futures stood at Rs 65,976 per kg.
Gold prices slipped by Rs 252 to Rs 52,155 per 10 grams in the national capital on Friday amid a stronger rupee, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 52,407 per 10 grams. Silver prices, however, rose by Rs 462 to Rs 68,492 per kg as compared to the previous close of Rs 68,030 per kg.
“Spot gold prices for 24 carat in Delhi were lower by Rs 252 despite the recovery in international prices as stronger rupee capped the upside for the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
In the international market, gold showed a strong trend and was trading with gains at $1,949 per ounce and silver at $27.33 per ounce. “Gold prices witnessed recovery on Friday on economic growth concerns,” Patel said.