New Delhi: Gold on Wednesday declined by Rs 615 to Rs 55,095 per 10 grams in the national capital amid a fall in the prices of the precious metal overseas. In the previous trade, the yellow metal had closed at Rs 55,710 per 10 grams. Silver also declined by Rs 2,285 to Rs 62,025 per kg.
HDFC Securities Senior Analyst – Commodities Saumil Gandhi said, “Spot gold was trading lower by Rs 615 at Rs 55,095 per 10 grams in Delhi markets.” ,Also Read: Cyber Fraud: How To Avoid Bank Scams? follow these tips,
In the overseas markets, both gold and silver fell to USD 1,814 an ounce and USD 20.05 an ounce, respectively. ,ALSO READ: Twitter chief Elon Musk apologizes for mocking ex-disabled employee in tweet storm,
Comex gold prices traded in the negative during the Asian trading hours on Wednesday.
Gandhi noted that after US Federal Reserve Chairman Jerome Powell said on Tuesday that interest rates may need to be higher than previously expected to curb inflationary pressures, gold prices declined in the previous session and prices were on a positive note. fell to the lowest level of the week.