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.
- 1 min read
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.
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)
Published January 5th, 2024 at 17:19 IST