Gold price today at Rs 56,050 per 10 g; silver at record Rs 76,510 a kg

Gold prices today jumped to Rs 56,050 from Rs 55,350 per 10 gram, while silver climbed to Rs 76,510 from Rs 73,500 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 rose to Rs 54,750 per 10 gram, and in Chennai to Rs 54,200. In Mumbai, the rate was Rs 54,500 according to the Good Returns website. The price of 24-carat gold price in Chennai was Rs 59,130 per 10 g.

On MCX, August gold futures fell 1.89 per cent to Rs 54,789 per 10 gram. Silver September futures was at Rs 74,160 per kg.

In the international market, gold slumped over 2 per cent on Friday, snapping its record-breaking rally, after a decent US jobs report boosted the dollar, but a worsening pandemic kept prices on course for their longest streak of weekly gains in about a decade.

Spot gold fell 1.4 per cent to $2,033.89 per ounce, after hitting a record high of $2,072.50. It has added 3 per cent so far this week for what would be its ninth straight weekly gain. US gold futures settled down 2 per cent at $2,028. Bullion has risen 34 per cent this year amid surging Covid-19 cases, which have battered global economies and prompted unprecedented stimulus measures.

Elsewhere, silver slid 3 per cent to $28.07 per ounce, having earlier hit its highest since February 2013 at $29.84. It has gained 15.5 per cent so far this week. Platinum dipped 4.1 per cent to $957.36, while palladium declined 2.9 per cent to $2,156.97.