Gold Price Drops Rs 100, Silver Down Rs 400 - HDFC Securities
By Rediff Money Desk, NEWDELHI Feb 26, 2024 17:16
Gold prices in India fell by Rs 100 per 10 grams on Monday, following a decline in global markets. Silver also saw a drop of Rs 400 per kilogram. Read more.
![Gold Price Drops Rs 100, Silver Down Rs 400 - HDFC Securities](https://im.rediff.com/money/2018/oct/31silver.jpg)
New Delhi, Feb 26 (PTI) Gold prices slipped Rs 100 to Rs 62,950 per 10 grams in the national capital on Monday amid a fall in the precious metal's prices in the international markets, according to HDFC Securities.
The yellow metal had settled at Rs 63,050 per 10 grams in the previous trade.
Silver also declined Rs 400 to Rs 74,600 per kilogram, while it had settled at Rs 75,000 per kg in the previous close.
"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 62,950 per 10 grams, down Rs 100, taking bearish cues from overseas markets," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at USD 2,031 per ounce, down USD 4 from the previous close.
Gold prices traded slightly down in the European trading session on Monday amid a lack of follow-up buying and subdued demand, Gandhi said.
Silver was also down at USD 22.75 per ounce, while it had ended at USD 22.94 per ounce in the previous trade.
Investors trimmed their positions after precious metal prices rose more than 1 per cent in the previous week ahead of the US GDP and Personal Consumption Expenditures (PCE) price index data to be released later this week, Gandhi added.
The yellow metal had settled at Rs 63,050 per 10 grams in the previous trade.
Silver also declined Rs 400 to Rs 74,600 per kilogram, while it had settled at Rs 75,000 per kg in the previous close.
"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 62,950 per 10 grams, down Rs 100, taking bearish cues from overseas markets," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at USD 2,031 per ounce, down USD 4 from the previous close.
Gold prices traded slightly down in the European trading session on Monday amid a lack of follow-up buying and subdued demand, Gandhi said.
Silver was also down at USD 22.75 per ounce, while it had ended at USD 22.94 per ounce in the previous trade.
Investors trimmed their positions after precious metal prices rose more than 1 per cent in the previous week ahead of the US GDP and Personal Consumption Expenditures (PCE) price index data to be released later this week, Gandhi added.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...