Gold Price Slumps Rs 300, Silver Falls Rs 200 - HDFC Securities
Gold prices in India fell by Rs 300 on Thursday, tracking global trends. Silver also declined by Rs 200. Read more about the latest precious metal prices.
Photograph: Arnd Wiegmann/Reuters
New Delhi, Jan 18 (PTI) Gold prices slumped Rs 300 to Rs 62,750 per 10 grams in the national capital on Thursday amid a decline in precious metal prices globally, according to HDFC Securities.
In the previous trade, the yellow metal finished at Rs 63,050 per 10 grams.
Silver also slipped Rs 200 to Rs 75,600 per kilogram, while it had closed at Rs 75,800 per kg in the previous close.
In the international markets, gold and silver were trading lower at USD 2,010 per ounce and USD 22.57 per ounce, respectively.
Gold extended its losses on Thursday amid upbeat US retail sales data, which indicates that the American economy remains robust and reduces the possibility of an interest rate cut by the Federal Reserve, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the previous trade, the yellow metal finished at Rs 63,050 per 10 grams.
Silver also slipped Rs 200 to Rs 75,600 per kilogram, while it had closed at Rs 75,800 per kg in the previous close.
In the international markets, gold and silver were trading lower at USD 2,010 per ounce and USD 22.57 per ounce, respectively.
Gold extended its losses on Thursday amid upbeat US retail sales data, which indicates that the American economy remains robust and reduces the possibility of an interest rate cut by the Federal Reserve, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
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