Gold Tumbles Rs 480; Silver Declines Rs 345: Gold Price
After falling by almost 1.80% in the previous session, Comex gold prices fell during Asian trading hours
New Delhi: According to HDFC Securities, the price of 10 grams of gold in the national capital fell by Rs 480 to Rs 58,770 due to a decline in international rates for the precious metal. The yellow metal had settled at Rs 59,250 for every 10 gram in the past exchange.
Additionally, silver decreased by Rs 345 to Rs 68,850 per kilogram. According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, "Spot gold prices traded at Rs 58,770 per 10 gram, down Rs 480 per 10 gram." Gold and silver were quoted at USD 1,939 and USD 22,34 per ounce, respectively, lower on the international market.
After falling by almost 1.80% in the previous session, Comex gold prices fell during Asian trading hours on Wednesday. According to Gandhi, investors reduced their positions ahead of the Federal Reserve's policy decision later on Wednesday, which resulted in the comex gold price falling more than 3% from its recent peak of USD 2,010 per ounce.