6 hrs ago
Gold Falls Third Day as Silver Gains in Delhi Markets
Gold became slightly cheaper in New Delhi on Wednesday.
Its price dropped for the third day in a row.
Silver moved in the opposite direction and became more expensive.
Silver rose for the second day in a row.
Traders said local demand for gold was subdued.
Investors are also waiting for important inflation information from the United States.
Because of this, many investors are being careful about trading gold.
The prices were reported by the All India Sarafa Association.
Gold prices fell Rs 100 to Rs 1,58,000 per 10 grams in New Delhi on Wednesday.
The decline marked gold’s third consecutive session of losses amid subdued local demand.
Silver prices rose Rs 2,300 to Rs 2,43,400 per kilogram, extending gains for a second session.
Gold of 99.9 per cent purity had closed at Rs 1,58,100 per 10 grams in the previous session.
An HDFC Securities analyst said investors were cautious ahead of important US inflation data due later this week.
- Who
- Gold and silver traders and investors; Saumil Gandhi of HDFC Securities provided an explanation.
- What
- Gold prices declined while silver prices increased in New Delhi.
- Where
- New Delhi’s local bullion market.
- When
- Wednesday; the report also says important US inflation data is due later this week.
- Why
- Gold faced subdued local demand, while investors took a cautious approach ahead of important US inflation data.
Key facts
- Gold price
- Rs 1,58,000 per 10 grams
- Gold movement
- Down Rs 100; third straight session of decline
- Gold purity
- 99.9 per cent
- Silver price
- Rs 2,43,400 per kilogram, inclusive of all taxes
- Silver movement
- Up Rs 2,300; second straight session of gains
- Previous gold price
- Rs 1,58,100 per 10 grams
- Market source
- All India Sarafa Association
Quotes
Saumil Gandhi
Senior Analyst - Commodities at HDFC Securities
“Gold has remained within a narrow range as investors take a cautious approach ahead of important US inflation data set to be released later this week,”
thehansindia.com
Sources
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