Gold falls Rs 50; silver remains flat
Gold prices declined Rs50 to Rs59,550 per 10 grams in the national capital on Monday amid a fall in precious metal prices globally, according to HDFC Securities.
image for illustrative purpose
New Delhi: Gold prices declined Rs50 to Rs59,550 per 10 grams in the national capital on Monday amid a fall in precious metal prices globally, according to HDFC Securities.
In the previous trade, the yellow metal had ended at Rs59,600 per 10 grams. However, silver remained flat at Rs76,500 per kg. In the international markets, gold and silver were down at $1,914 per ounce and $24.17 per ounce, respectively.
“Investors continued to assess Hawkish remarks from the world’s top central bankers, who stressed the need to keep interest rates high until inflation is contained at the Jackson Hole gathering. US Federal Reserve Chair Jerome Powell said that the central bank is prepared to raise interest rates further if needed and intends to keep borrowing costs high until inflation is on a convincing path towards the Fed’s two per cent target,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.
