Gold falls Rs 150; silver slumps Rs 300
image for illustrative purpose
New Delhi: Gold prices fell by Rs150 to Rs72,300 per 10 grams in the national capital on Wednesday amid a decline in precious metal rates in the global markets, according to HDFC Securities.
The yellow metal had ended at Rs72,450 per 10 grams in the previous session. Silver prices also slumped Rs300 to Rs84,700 per kg. It had finished at Rs85,000 per kg in the previous close. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs72,300 per 10 grams, down by Rs150 against the previous close,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
In the overseas markets, spot gold at Comex was trading at $2,310 per ounce, down by $9 from the previous close. Gold prices declined on Wednesday amid a rise in the US dollar, Gandhi said. Silver was also quoting lower at $27.15 per ounce. It had closed at $27.25 per ounce in the previous session. “Gold prices are consolidating in a range so far in the week amid lack of fresh triggers, as market participants look for more incoming data to gauge the outlook on the future interest rates.
