Markets

Gold marginally lower; silver tumbles ₹ 1,094

Gold in the national capital on Wednesday dipped marginally by ₹ 61 to ₹ 46,607 per 10 gram, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹ 46,668 per 10 gram.

Silver also tumbled ₹ 1,094 to ₹ 64,779 per kilogram from ₹ 65,873 per kilogram in the previous trade.

"Spot gold prices for 24-carat gold at Delhi were down by ₹ 61 reflecting overnight fall in COMEX gold prices and rupee appreciation," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

The Indian rupee opened on a flat note and inched 4 paise higher to 74.43 against the U.S. dollar in early trade on Wednesday.

In the international market, gold was trading with marginal gains at $ 1,800 per ounce and silver was flat at $ 24.76 per ounce.

"Gold prices fluctuated ahead of outcome from the U.S. FOMC meeting," he added.

Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, "Gold continues to trade steady hovering near the $ 1,800 level amidst volatility in U.S. dollar and Yields, though gains were limited, as a cautious approach is followed by the investors ahead of a Federal Reserve meeting."


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Printable version | Sep 23, 2021 1:38:04 PM | https://www.thehindu.com/business/markets/gold-marginally-lower-silver-tumbles-1094/article35580766.ece

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