Bullion prices fall on global cues
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New Delhi: Gold prices fell Rs100 to Rs60,150 per 10 grams in the national capital on Friday amid weak trends in global markets, according to HDFC Securities.
The precious metal had settled at Rs60,250 per 10 grams in the previous trade. Silver also plunged Rs400 to Rs77,100 per kg. “Gold prices retreated from a multi-week high amid mixed US economic data and an uptick in the dollar index,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.
In the international markets, gold and silver prices were down at $1,942 per ounce and $24.50 per ounce, respectively. “Focus now shifts to manufacturing PMI data from major economies and to the all-important US unemployment rate and non-farm payrolls data scheduled later in the evening, which could trigger further volatility in bullions,” said Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services.
