Forex Trading, News, Systems and More

Gold declines Rs 200; silver remains flat

Gold price declined Rs 200 to Rs 62,450 per 10 grams in the national capital on Monday amid a fall in precious metal prices internationally, according to HDFC Securities. The yellow metal had closed at Rs 62,650 per 10 grams in the previous trade.

“Gold declined on Monday, down by Rs 200 following a bearish trade in the overseas market,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

However, silver remained flat at Rs 75,200 per kilogram.

The comex gold price slipped on Monday on the back of an uptick in the US dollar, Gandhi said.

In the global markets, both gold and silver were down at USD 1,995 per ounce and USD 23.06 per ounce, respectively.

“Investors will closely watch the Fed’s assessment of the US economy and any hints about future monetary policy decisions, as they can influence interest rates and the value of the dollar, which in turn affects gold prices,” Praveen Singh, Associate vice-president of Fundamental currencies and commodities at Sharekhan by BNP Paribas, said.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price