Gold slips Rs330; silver falls Rs1,650
image for illustrative purpose
Gold prices declined Rs 330 to Rs 61,370 per 10 grams in the national capital on Thursday amid weak global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs61,700 per 10 grams. Silver also tumbled Rs1,650 to Rs75,950 per kg.
“Spot gold prices in the Delhi markets traded at Rs61,370 per 10 grams, down Rs330 per 10 grams,” Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. In the international market, both gold and silver were trading lower at $2,026 per ounce and $25.10 per ounce, respectively. Gold prices edged lower in Asian trading hours on Thursday as volatility in yellow metal expanded post US inflation data, Gandhi said.
Gold futures fall on low demand
Gold prices on Thursday fell Rs126 to Rs61,144 per 10 grams in futures trade as speculators reduced their positions. On the Multi Commodity Exchange, gold contracts for June delivery traded lower by Rs126 or 0.21 per cent at Rs61,144 per 10 grams in a business turnover of 14,374 lots.
Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.31 per cent lower at $2,030.70 per ounce in New York.
