Monday, March 4, 2024

Gold price falls Rs 100 to Rs 63,450 per 10 grams

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Gold prices fell Rs 100 to Rs 63,450 per 10 grams in the national capital on Friday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 63,550 per 10 grams. However, silver remained flat at Rs 76,900 per kg. “Gold extended its losses on Friday, with spot gold prices in the Delhi markets trading at Rs 63,450/ 10 grams, down by Rs 100 following bearish trends in the overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. In the global markets, both gold and silver were marginally down at USD 2,040 per ounce and USD 23.03 per ounce, respectively. Gold prices are under pressure as the dollar and US treasury yields rise in response to better-than-expected US macro data and uncertainty on the Federal Reserve’s monetary policy interest rate cut strategy, Gandhi added.
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