Gold, silver prices divergent
image for illustrative purpose
New Delhi: Gold price decreased Rs 400 to Rs 62,050 per 10 grams in the national capital on Tuesday amid a decline in yellow metal prices globally, according to HDFC Securities.
In the previous trade, the precious metal had ended at Rs 62,450 per 10 grams. “The gold price is struggling to find an uptick and is trading below a multi-month high reached last week as treasury yields increased, and the Israel-Hamas conflict remained contained,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
Silver, however, jumped Rs 300 to Rs 75,500 per kilogram. In the overseas markets, gold was quoting lower at $1,993 per ounce, while silver was up at $23.12 per ounce. Traders believe the gold price is likely to trade in a narrow range as they await the outcome of a major two-day FOMC monetary policy meeting for hints about the future rate hike path, Gandhi said.
