Gold remains flat, silver falls Rs150

New Delhi: Gold prices remained flat at Rs74,150 per 10 grams in the national capital on Wednesday, according to the All India Sarafa Association. The yellow metal of 99.9 per cent purity had jumped Rs1,400 to settle at Rs74,150 per 10 grams in the previous session on Tuesday. However, silver prices declined Rs150 to Rs87,000 per kilogram against Rs87,150 per kg in the previous close. Meanwhile, gold of 99.5 per cent purity also remained flat at Rs73,800 per 10 grams.

In the global market, Comex gold is trading at $2,544.50 per ounce, down by $6.10 per ounce. “Gold...still holding to trade above $2,500, after surging to fresh all-time highs on Tuesday amid the expectation of rate cuts from the US Federal Reserve,” said Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas. Global traders and consumers continue to put their bets on the precious metal amid weakness in the US dollar index and robust Chinese demand.