Rising bond yields keep pressure on Gold prices
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New Delhi: Gold price declined by Rs420 to Rs60,380 per 10 gram in the national capital on Thursday amid a fall in prices of the precious metal overseas, according to HDFC Securities. The yellow metal had closed at Rs 60,800 per 10 gram in the previous trade. Silver, however, jumped Rs500 to Rs73,300 per kilogram. “Spot gold prices for the Delhi market traded at Rs 60,380/ per 10 gram, down by Rs 420 per 10 gram,” Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. In the international markets, gold was quoting lower at $1,945 per ounce, while silver was up at $23.65 per ounce. Gold price came under pressure on the back of a rally in US bond yields on expectations of further tightening of the interest rates by the US Fed, said Gandhi.
