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New Delhi: The precious metals gold and silver prices showed a upward trend in early trade on Tuesday. Gold prices were up Rs 10, with 10 grams trading at Rs 1,61,360, while silver prices also showed a small gain in early trade, according to GoodReturns.
The gold rate on Monday was Rs 1,61,350 per 10 gms, while the silver rate was Rs 2,74,900 per 1 kg, according the Bullions website.
Both the precious metals saw a recovery last week, with both recording a sharp surge. However, despite this rebound, the gold and silver are still trading significantly lower than their peak levels.
According to the last week's surge in silver prices, the metal became costlier by Rs 8,584 per kilogram over the week.
The precious metals saw no major movements, in Delhi the 24-carat gold was priced at Rs 1,61,930 per 10 grams and 22-carat gold at Rs 1,48,450. Silver traded at Rs 2,85,000 per kg.
In Mumbai, the 24-carat gold was priced at Rs 1,61,780 per 10 grams and 22-carat gold at Rs 1,48,300. Silver traded at Rs 2,85,000 per kg.
In Kolkata, the 24-carat gold was priced at Rs 1,61,780 per 10 grams and 22-carat gold at Rs 1,48,300. Silver traded at Rs 2,85,000 per kg.
The following rates are as per 10 grams of gold:
The following rates are as per 1 kg of silver:
According to analysts, the major reasons behind changes are:
Gold and silver touched their record highs on January 29. According to MCX, the record high level for gold is Rs 1.93 lakh, while the record high price for silver is Rs 4.20 lakh