Gold falls ₹100, silver declines by ₹300 on weak global cues

In the global market, gold and silver were quoting lower at $1,955 per ounce and $24.25 per ounce, respectively

Gold had closed at ₹60,450 per 10 grams in the previous trade. File. | Photo Credit: Reuters

Gold prices fell by ₹100 to ₹60,350 per 10 grams in the national capital on July 31 amid a decline in the precious metal in global markets, according to HDFC Securities.

The precious metal had closed at ₹60,450 per 10 grams in the previous trade.

Silver also dropped by ₹300 to ₹76,700 per kilogramme.

In the global market, gold and silver were quoting lower at $1,955 per ounce and $24.25 per ounce, respectively.

Gold struggle to find direction after mixed U.S. economic data that clouded the outlook for the Federal Reserve's likely rate path amid conjecture on whether its economy is running too hot or too cold.

The dollar index sustained above the 101 level and is currently trading up by 0.11% at 101.51 which also put pressure on precious metals, Saumil Gandhi, Senior Analyst — Commodities at HDFC Securities, said.