Gold remains flat; silver falls Rs 400
image for illustrative purpose
New Delhi: Gold price remained flat at Rs62,000 per 10 grams in the national capital on Friday amid mixed global cues, according to HDFC Securities. However, silver declined Rs400 to Rs74,600 per kilogram. Saumil Gandhi, senior analyst of commodities at HDFC Securities, said: “Gold prices steadied as strong US GDP data is likely to allow the Federal Reserve to stick to its hawkish stance. Safe haven demand is protecting the downside in gold as the focus remains on the conflict in the Middle East.” In the global markets, both gold and silver were down at $1,987 per ounce and $22.85 per ounce, respectively. Gandhi also said that personal consumption expenditure (PCE) data in the US would provide an indication of the Federal Reserve’s policy outlook.
