New Delhi: Gold in the national capital on Thursday plunged Rs 861 to Rs 46,863 per 10 grams reflecting muted global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 47,724 per 10 grams.
Silver also declined Rs 1,709 to Rs 68,798 per kg, from Rs 70,507 per kg in the previous trade.
In the international market, gold was trading lower at USD 1,810 per ounce and silver was flat at USD 26.89 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices traded under pressure witnessing overnight selling after the US Federal Reserve’s comments. The hawkish stance pushed dollar higher against major currencies triggering selling in gold prices.”
The stronger dollar may continue to pressure gold prices dampening safe haven demand for the short term, he added.
Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, “Gold prices languished as the dollar and the US Treasury yields jumped after US Federal Reserve officials projected interest rate hikes sooner than expected. (PTI)
Ladakh reports 33 new Covid cases
Anti-inflammation drug may effectively treat COVID-19 complications in children: Study
Apple previews new software for iPhone, other gadgets
World No Tobacco Day : Quit smoking to lead a healthy life
Gold down Rs 123, silver falls Rs 206
Rupee inches 7 paise higher to 74.35 against US dollar in early trade
Rupee slips 4 paise to 74.44 against US dollar in early trade
President inaugurates SBI’s first branch within Rashtrapati Bhavan
Sebi consent not mandatory for compounding of offences under section 24A of Act: SC
Download 10Cric Casino app, and enjoy Indias most popular casino games, directly on your mobile!
Gamble with real money online! Play Indias favourite casino games at 7Jackpots.com, Indias most trusted online casino site.
© 2020 State Times Daily Newspaper | Powered by Ideogram Technology Solutions [P] Ltd.