Bullion prices turn weaker on positive US data
Gold prices fell Rs80 to Rs60,400 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs60,480 per 10 grams.
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New Delhi: Gold prices fell Rs80 to Rs60,400 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs60,480 per 10 grams. Silver also went lower Rs400 at Rs73,000 per kilogram. Spot gold prices in the Delhi markets traded at Rs60,400/10 gms, slightly down by Rs80 per 10 grams, said Dilip Parmar, research analyst at HDFC Securities. In the overseas markets, both gold and silver were trading lower at $1,945 per ounce and $23.50 per ounce, respectively. “Gold prices edged lower on the back of positive economic data points, higher US dollar and yields, offsetting support from the prospects that the Federal Reserve would pause its rate hikes this month,” said Navneet Damani, senior V-P (commodity research) at Motilal Oswal Financial Services.
