Gold Prices: Yellow metal dips as dollar remains firm

Spot gold prices hit a low of $1,900.49 per ounce by 0119 GMT, hovering near the lowest price since August 23.

Gold prices remained under pressure in India and the global markets on September 27, trading near their weakest levels in a month as the US dollar firmed on the back of a higher-for-longer interest rate scenario.

Spot gold prices hit a low of $1,900.49 an ounce, hovering near their lowest price since August 23.  US gold futures eased 0.1 percent to $1,918.20 and traded near their weakest levels in a month touched in the previous session.

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SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.4 percent on September 26.

Spot silver dropped 0.6 percent to $22.72 per ounce, platinum shed 0.2 percent to $901.95 and palladium gained 0.2 percent to $1,226.32.

The price of 24-carat gold dipped Rs 220 during early trade, with ten grams of the precious metal selling at Rs 59,730, according to the GoodReturns website.

The price of 22-carat gold fell Rs 200 to Rs 54,750. The price of ten grams of 24-carat gold in Mumbai was at par with that in Kolkata and Hyderabad at Rs 59,730.

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The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai was Rs 59,880, Rs 59,730, and Rs 60,050, respectively. The price of ten grams of 22-carat gold in Mumbai was the same as in Kolkata and Hyderabad, at Rs 54,750.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 54,900, Rs 54,750, and Rs 55,050, respectively.