New Delhi: Gold prices fell by Rs 150 to Rs 72,600 per 10 gram in the national capital on Tuesday, falling for the second consecutive session, amid a fall in the prices of the precious metal in global markets, according to HDF Securities.
In the previous session, the yellow metal had closed at Rs 72,750 per 10 grams.
Silver prices also fell by Rs 750 to Rs 83,750 per kg. In the previous close, I had closed at Rs 84,500 per kg.
"Taking bearish cues from overseas markets, spot gold prices (24 carat) are trading at Rs 72,600 per 10 grams, lower by Rs 150 in Delhi markets," said Saumil Gandhi, senior commodity analyst at HDFC Securities. "
In international markets, spot gold on Comex was trading at US$2,320 an ounce, lower by US$13 from its previous close.
“Gold prices continued to weaken… as the reason for this selloff was the anticipation of a dovish stance by the US Federal Reserve in the upcoming interest rate policy announcement on May 1.
“Furthermore, the coming week is expected to see continued volatility in GOL prices due to key data releases like non-farm payrolls and jobless data,” said Jatin Trivedi, VP Research Analyst – Commodity & Currency, LK Securities.
Silver also declined and was being quoted at US $ 26.80 an ounce. In the last session it had closed at $ 27.22 an ounce.
Navneet Damani, senior vice president, commodity research at Motilal Oswal Financial, said investors will await key data including US consumer confidence due to be released on Tuesday, which could support bullion prices at lower levels if reported lower than expected. Services, said.
In the previous session, the yellow metal had closed at Rs 72,750 per 10 grams.
Silver prices also fell by Rs 750 to Rs 83,750 per kg. In the previous close, I had closed at Rs 84,500 per kg.
"Taking bearish cues from overseas markets, spot gold prices (24 carat) are trading at Rs 72,600 per 10 grams, lower by Rs 150 in Delhi markets," said Saumil Gandhi, senior commodity analyst at HDFC Securities. "
In international markets, spot gold on Comex was trading at US$2,320 an ounce, lower by US$13 from its previous close.
“Gold prices continued to weaken… as the reason for this selloff was the anticipation of a dovish stance by the US Federal Reserve in the upcoming interest rate policy announcement on May 1.
“Furthermore, the coming week is expected to see continued volatility in GOL prices due to key data releases like non-farm payrolls and jobless data,” said Jatin Trivedi, VP Research Analyst – Commodity & Currency, LK Securities.
Silver also declined and was being quoted at US $ 26.80 an ounce. In the last session it had closed at $ 27.22 an ounce.
Navneet Damani, senior vice president, commodity research at Motilal Oswal Financial, said investors will await key data including US consumer confidence due to be released on Tuesday, which could support bullion prices at lower levels if reported lower than expected. Services, said.
