Gold falls Rs 200; silver rises Rs 500

New Delhi: Gold prices fell Rs200 to Rs79,100 per 10 grams in the national capital on Wednes-day amid a firm trend in international markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity settled at Rs79,300 per 10 grams in the previous session. Snapping a three-day losing run, silver climbed Rs500 to Rs92,000 per kg on Wednesday.

It closed at Rs91,500 per kg on Tuesday. In the last three sessions, the white metal plunged Rs5,500 per kg. The price of gold of 99.5 per cent purity slipped Rs200 to Rs78,700 per 10 grams from the previous close of Rs78,900 per 10 grams on Tuesday. Gold remains on the defen-sive as the market braces for the outcome of the US Federal Reserve’s (Fed) meeting, which can provide forward guidance for bullion prices, experts said. Comex gold futures in the Asian trad-ing session rose 0.08 per cent to $2,664.10 per ounce. Meanwhile, silver traded flat at $30.92 per ounce in the global markets.

“Gold continues to trade within a range as market participants await the Fed’s policy announce-ment tonight, with increased focus on the 2025 outlook and concerns surrounding the job mar-ket,” Jateen Trivedi, VP Research Analyst of Commodity and Currency, LKP Securities, said.