Gold price unchanged, silver surges up

In today's early trade, the price of gold remained unchanged while the price of silver increased, with 10 grams of the yellow metal (24-karat) selling at Rs 54,000. Meanwhile, silver prices up by Rs 700 per kg to Rs 66,200 per kg today.

Ten grams of 22-carat gold is trading at Rs 49,500 after a drop of Rs 300 from Tuesday's close, according to the GoodReturns website.

Citywide breakdown

In Mumbai, Kolkata, and Hyderabad, Kerala and Pune, 10 grams of gold (22-carat and 24-carat) was selling at Rs 49,500, and Rs 54,000 respectively.

In Delhi, 22-carat and 24-carat gold was trading at Rs 49,650, and Rs 54,150, respectively. In Chennai, 10 grams of 22-carat and 24-carat gold was trading at Rs 50,230and Rs 54,790.

Gold prices struggled for momentum in early Asian trade on Wednesday as investors looked to next week's US Federal Reserve policy meeting for clues on the pace of rate hikes.

Spot gold was little changed at $1,770.46 per ounce, as of 0008 GMT.

US gold futures were flat at $1,783.10. Fed fund futures are now pricing in a 91% chance of 50-basis point (bps) rate increase in the December meeting.

The price of 1 kg of silver in Delhi, and Mumbai was Rs 66,200. In Chennai, Bengaluru, and Hyderabad, the metal was trading at Rs 71,300 per kg.

Spot silver inched 0.1% up to $22.13, platinum was flat at $988.42 and palladium was unchanged at $1,848.48.