Gold falls by Rs134, silver declines Rs169
Gold prices declined by Rs134 to Rs50,601 per 10 grams in the national capital on Wednesday in line with global trends.
image for illustrative purpose
New Delhi: Gold prices declined by Rs134 to Rs50,601 per 10 grams in the national capital on Wednesday in line with global trends. In the previous trade, the precious metal had settled at Rs50,735 per 10 grams.
Silver also declined by Rs 169 to Rs 62,787 per kg from Rs 62,956 per kg in the previous trade. "Gold prices held steady as US treasury yields rose and the upcoming policy decision from the US Federal Reserve lowered demand for gold," said Tapan Patel, senior analyst (commodities), HDFC Securities.
The rupee appreciated 8 paise to settle at 76.40 (provisional) against the US dollar on Wednesday following the RBI's surprise rate hike ahead of the US Federal Reserve's policy decision.
The precious metal traded lower in Asia in morning trade due to a strong dollar and ahead of the policy decision by the US Federal Reserve. Gold prices traded steady in the US with spot gold prices at COMEX trading marginally up at $1,869 per ounce on Wednesday.
Silver was flat at USD 22.61 per ounce.
