Gold falls as silver remains flat

New Delhi: Gold prices fell Rs120 to Rs72,180 per 10 grams in the national capital on Thursday in line with weak trends in the global markets, according to HDFC Securities. The precious metal had settled at Rs72,300 per 10 grams in the previous session. However, silver prices remained flat at Rs90,600 per kg. “In Delhi markets, spot gold prices (24 carats) quoted at Rs72,180 per 10 grams, down by Rs120 from the previous close,” Dilip Parmar, Research Analyst at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at $2,305 per ounce, down $11 from the previous close. Gold traded lower in the early trade due to stronger rupee and risk-on sentiments, Parmar said. However, silver remained flat at $28.94 per ounce. “Commodities remain in a corrective mode, weighed by a stronger US dollar and elevated Treasury yields as recent comments from a couple of the Fed officials suggests that rate cuts are unlikely to come anytime soon,” Pranav Mer, VP - Research (Commodity & Currency) at BlinkX and JM Financial, said.