Gold prices in India fell by Rs 80 to Rs 61,820 per 10 grams on Wednesday, while silver tumbled by Rs 700 to Rs 75,050 per kilogram. The decline was attributed to weak global cues, including a slight increase in US inflation data.
New Delhi, Dec 13 (PTI) Gold prices slipped Rs 80 to Rs 61,820 per 10 grams in the national capital on Wednesday amid weak global cues, according to HDFC Securities.
The precious metal had closed at Rs 61,900 in its previous close.
Silver also tumbled Rs 700 to Rs 75,050 per kilogram.
In the international markets, gold and silver were down at USD 1,981 per ounce and USD 22.70 per ounce, respectively.
Spot gold at Comex was trading at USD 1,981 per ounce, down by USD 8 from its previous close in the overseas markets.
"Comex gold is trading near a multi-week low after US Consumer Price Index (CPI)data on Tuesday ticked up slightly in November, bringing into question expected rate cuts next year.
"Traders are now waiting for remarks from Federal Reserve Chair Jerome Powell, who is scheduled to speak later on Wednesday, and will provide new insights into the central bank's monetary policy rate path for next year," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
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