Gold price on Monday was slightly higher at Rs 45,710 per 10 gm compared to Rs 45,700 in the previous session. Silver is trending at Rs 66,900 per kg, according to the Good Returns website. Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes. In New Delhi, the price of 22-carat gold is at Rs 45,660 per 10 gm, while in Chennai it rose to Rs 43,750. The rate in Mumbai was Rs 44,710 according to the website. The price of 24-carat gold in Chennai was Rs 47,730 per 10 gm. “Gold is currently in a consolidation phase, which is encouraging bargain hunters and long-term investors to step in and take advantage of low prices as gold may soon reverse direction decisively and recover”, said Chirag Mehta - Senior Fund Manager - Alternative Investments, Quantum AMC.