The price of 22-karat gold on Saturday slipped from 45,380 rupees on Friday to 45,240 rupees for 10 grams, and according to the Good Returns website, silver was 61,600 rupees per kg.
The price of gold jewelry varies across India, the second largest consumer of the metal, due to consumption taxes, government taxes and fees.
In New Delhi, the price of 22 carat gold fell to 45,350 rupees per 10 grams, while in Chennai it fell to 43,570 rupees. The Mumbai price tag is Rs 45,240, according to the website.
The price of 24-karat gold dropped from 46,300 rupees in Friday’s trading session to 46,240 rupees per 10 grams on Saturday.
Silver remained unchanged on Saturday at 60,600 rupees per kilogram.
The Indian rupee lost 13 paises to 73.77 against the US dollar in opening trade on Friday, in line with other Asian currencies amid a strong overseas dollar.
On the world market, the chairman of the US Federal Reserve indicated a gradual reduction at the end of the meeting of the Open Market Committee (FOMC), which had a negative effect on the international gold market.
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