According to the Good Returns website, the gold price on Thursday rose to Rs 48,870 per 10 grams from Rs 48,600 and the silver price is Rs 66,300 per kg.
The price of gold jewelry varies in India, the second largest consumer of metal, due to excise taxes, government taxes and changes.
In New Delhi, the price of 22-carat gold is Rs 44,800 per 10 grams, while in Chennai it has dropped to Rs 42,970. According to the website, the cost of the trip to Mumbai was Rs 44,300. The price of 24-carat gold in Chennai was Rs 46,890 per 10 grams.
According to HDFC Securities, on Wednesday in the national capital, gold rose by 587 rupees to 45,768 rupees per 10 grams amid depreciation of the rupee.
In the previous transaction, the price of the precious metal was Rs 45,181 per 10 grams. In tandem with the rally in gold, silver also jumped from Rs 682 to Rs 65,468 per kilogram from Rs 64,786 per kilogram in the previous trade. The Indian rupee fell 24 paise to 73.66 against the US dollar at the opening of trading on Wednesday.
Internationally, gold prices fell on Wednesday as robust economic data from the United States raised expectations for a quick recovery and reduced bullion appeal as investors waited minutes since the last Federal Reserve meeting.
Spot gold fell 0.5% to $ 1,734.20 an ounce by 11:58 am GMT. US gold futures fell 0.4% to $ 1,735.80 an ounce.
Carlo Alberto De Casa, chief analyst at ActivTrades, said strong US economic data raises concerns that emission reductions from central banks may come earlier than expected.
There are growing expectations that accelerated US economic growth and inflation could force the Fed to abandon its promise to keep interest rates near zero until 2024.
Unproductive gold is very sensitive to rate hikes as it increases the opportunity cost of owning bullion and supports dollar and bond yields.
Market participants are waiting for the release of the minutes of the meeting of the US Federal Reserve System on March 16-17 at 18:00 GMT.