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Gold falls Rs 150 to Rs 60,300/10 gms; silver tumbles Rs 1,500

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NEW DELHI, Sept 5: Gold prices fell by Rs 150 to Rs 60,300 per 10 grams in the national capital on Tuesday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 60,450 per 10 grams.

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Silver also tumbled Rs 1,500 to Rs 75,500 per kilogram.

“Gold declined on Tuesday, with spot gold prices (24 carats) in the Delhi markets trading at Rs 60,300/10 grams, down by Rs 150, following bearish trade in overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, both gold and silver were quoting lower at USD 1,936 per ounce and USD 23.60 per ounce, respectively.

“Gold price traded steady as the US markets were shut on the back of labour day holiday and also as investors awaited more cues on the health of the American economy ahead of the Federal Reserve’s meeting this month,” Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services, said.

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Today, the market direction will be influenced by upcoming reports on Services PMI from the European countries, ahead of the US Services PMI due on Wednesday, Chintan Mehta, chief executive officer of Abans Holdings, said. (PTI)

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The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
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