Gold Price Drops Rs 150, Silver Tumbles Rs 950
Nov 08, 2023 16:29
Gold price in India fell by Rs 150 on Wednesday, driven by a decline in global markets. Silver also tumbled Rs 950 per kg. The drop was attributed to a stronger dollar and hawkish comments from the US Federal Reserve.
New Delhi, Nov 8 (PTI) Gold price dropped by Rs 150 to Rs 61,350 per 10 gram in the national capital on Wednesday amid a decline in the precious metal's price in overseas markets, according to HDFC Securities.
The yellow metal had ended at Rs 61,500 per 10 gram in the previous trade.
Silver also tumbled Rs 950 to Rs 73,600 per kg.
In the global markets, gold and silver were trading down at USD 1,966 per ounce and USD 22.55 per ounce, respectively.
Gold fell due to an uptick in the dollar and hawkish comments from the US Federal Reserve members which emphasised on Tuesday that bringing inflation fully down to the central bank's 2 per cent goal is their main focus, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
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