Gold falls Rs 80; silver tumbles Rs 767

Gold price fell Rs 80 to Rs 55,840 per 10 grams in the national capital on Friday amid weak global trends, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 55,920 per 10 grams.

Silver also tumbled Rs 767 to Rs 64,517 per kilogramme.

“Spot gold prices in the Delhi markets traded at Rs 55,840 per 10 grams, down Rs 80 per 10 grams,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.

In the overseas market, gold and silver were quoting lower at USD 1,820 per ounce and USD 21.17 per ounce, respectively.

Comex Gold prices traded within lower range in Asian trading hours on Friday, Gandhi said.

“Gold prices continue to inch lower amid growing uncertainty over US monetary policy, with markets seeking more cues from a reading on the Fed’s preferred inflation gauge later in the day,” Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said.