Gold slips Rs100; silver declines Rs400

New Delhi: Gold prices slipped 100 to Rs62,950 per 10 grams in the national capital on Monday amid a fall in the precious metal’s prices in the international markets, according to HDFC Securities. The yellow metal had settled at Rs63,050 per 10 grams in the previous trade. Silver also declined Rs400 to Rs74,600 per kilogram, while it had settled at Rs75,000 per kg in the previous close. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs 62,950 per 10 grams, down Rs 100, taking bearish cues from overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at $2,031 per ounce, down $4 from the previous close. Gold prices traded slightly down in the European trading session on Monday amid a lack of follow-up buying and subdued demand, Gandhi said. Silver was also down at $22.75 per ounce, while it had ended at $22.94 per ounce in the previous trade. Investors trimmed their positions after precious metal prices rose more than 1 per cent in the previous week ahead of the US GDP and Personal Consumption Expenditures (PCE) price index data to be released later this week, Gandhi added.