Bullion prices sluggish on global cues

New Delhi: Gold declined Rs130 to Rs60,170 per 10 grams in the national capital on Thursday amid fall in precious metal prices in the overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs60,300 per 10 grams. However, silver remained flat at Rs74,500 per kilogram. Gold slipped on Thursday, with spot gold prices (24 carats) in the Delhi markets trading at Rs60,170 /10 gram, down by Rs130, following a weak trend in the overseas markets,” said Saumil Gandhi, senior analyst of commodities at HDFC Securities.

In the global markets, gold was trading lower at $1,926 per ounce, while silver was flat at $23.19 per ounce. “Gold price slipped as the US dollar and bond yields rose after the Federal Reserve signalled another rate hike this year and a tighter monetary policy through 2024 than previously expected,” said Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services.