Advertisement

Updated January 5th, 2024 at 17:19 IST

Gold falls by Rs 100 to Rs 63,450 per 10 grams

Downtrend in gold prices in Delhi mirrored the bearish sentiment prevalent in international markets.

Reported by: Business Desk
Gold jewellery
Gold jewellery | Image:Pixabay
Advertisement

Gold prices: Gold prices in the national capital experienced a decline of Rs 100, settling at Rs 63,450 per 10 grams on Friday, influenced by subdued global trends, as reported by HDFC Securities. In the preceding trading session, the precious metal had concluded at Rs 63,550 per 10 grams. Conversely, silver rates remained unchanged at Rs 76,900 per kilogram.

Saumil Gandhi, a senior commodities analyst at HDFC Securities, remarked that the downtrend in gold prices in Delhi mirrored the bearish sentiment prevalent in international markets. Globally, both gold and silver saw marginal reductions, with gold hovering around $2,040 per ounce and silver at approximately $23.03 per ounce.

Advertisement

Gandhi attributed the downward pressure on gold prices to the strengthening US dollar and treasury yields, which have been buoyed by encouraging US economic indicators. Additionally, uncertainties loom over the Federal Reserve's stance on potential interest rate adjustments, further influencing the precious metal's performance.

(With PTI inputs)

Advertisement

Published January 5th, 2024 at 17:19 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Whatsapp logo