Gold price on Friday hit a record high, surpassing the previous record of Rs 56,191 hit in August 2020. The price of the yellow metal rose by Rs 121 to Rs 56,236 per 10 grams in the national capital amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 56,115 per 10 grams.

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On the multi-commodity exchange, Gold February futures quoted Rs 56,140 per 10 gram around 3 PM, up by nearly 0.50 per cent.

Silver, however, declined Rs 145 to Rs 68,729 per kg.

In the overseas market, gold was trading in green at USD 1,898 per ounce while silver was flat at USD 23.73 per ounce.

"Gold prices edged higher and were on track for a fourth weekly gain, supported by a weaker dollar and expectations of slower interest rate hikes by the US Fed Reserve," said Navneet Damani, Senior VP, Commodity Research at Motilal Oswal Financial Services.

According to data released by the Bureau of Labor Statistics on Thursday, US consumer prices declined to 6.5 per cent in December, giving hope that inflation will soften going forward and the Fed will also take a softer approach on rate hikes. It is believed that the regressive Fed rate hikes have helped the government to bring down inflation.

Gold price 22k, city wise as of January 13, 2023 

 

Cities Gold Price 22k
Chennai Rs 52,500
Mumbai Rs 51,600
Delhi Rs 51,750
Kolkata Rs 51,600
Bangalore Rs 51,650
Hyderabad Rs 51,600
Kerala Rs 51,600
Pune Rs 51,600
Vadodara Rs 51,650
Ahmedabad Rs 51,650
Jaipur Rs 51,750
Coimbatore Rs 52,500
Madurai Rs 52,500
Vijayawada Rs 51,600
Patna Rs 51,650
Nagpur Rs 51,600
Chandigarh Rs 51,750
Surat Rs 51,650
Bhubaneswar Rs 51,600
Mangalore Rs 51,650
Visakhapatnam Rs 51,600
Nashik Rs 51,630

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