Gold Price Falls Rs 50 in Delhi, Silver Remains Flat - HDFC Securities
Feb 13, 2024 18:57
Gold prices in Delhi fell by Rs 50 per 10 grams on Tuesday, while silver remained stable. The decline was attributed to a strengthening dollar and US Treasury yields.
New Delhi, Feb 13 (PTI) Gold prices fell Rs 50 to Rs 63,100 per 10 grams in the national capital on Tuesday amid a fall in the precious metal's prices globally, according to HDFC Securities.
The yellow metal had closed at Rs 63,150 per 10 grams in the previous trade.
However, silver remained flat at Rs 75,400 per kilogram.
"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 63,100 per 10 grams, down Rs 50 from the previous close," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at USD 2,021 per ounce, down USD 1 from the previous close.
Gold prices declined marginally due to a strengthening in the dollar and US Treasury yields, before crucial US consumer inflation data, which is scheduled to release later on Tuesday, Gandhi added.
Silver was quoting with gains at USD 22.82 per ounce.
"Gold traded positively on the MCX, up approximately Rs 200 to reach Rs 62,280, following a technical glitch that delayed the market opening.
"The delayed opening caused traders to miss out on lower rates, as Comex gold experienced a positive rally of USD 4 per ounce," Jateen Trivedi, VP Research Analyst at LKP Securities, said.
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