New Delhi, April 8: Gold prices fell by Rs 200 to Rs 91,250 per 10 grams in the national capital on Tuesday amid subdued demand in the local markets, according to the All India Sarafa Association.
The precious metal of 99.9 per cent purity had settled at Rs 91,450 per 10 grams on Monday.
Gold of 99.5 per cent purity dipped Rs 200 to Rs 90,800 per 10 grams. It had concluded at Rs 91,000 per 10 grams in the previous market close.
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However, silver prices rebounded after falling for the past five sessions and rose by Rs 200 to Rs 92,700 per kg against the previous close of Rs 92,500 per kg.
Meanwhile, spot gold increased 0.82 per cent to USD 3,007.60 per ounce in the overseas markets.
“Gold traded positive with a sharp recovery…as rupee weakness added to the upside momentum. The global sentiment remained cautious with the dollar index moving sideways near the 102-mark, offering no strong headwinds to bullion prices,” Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said.
However, the key driver remained tariff tensions, as China’s aggressive stance against US trade measures reignited safe-haven demand, Trivedi added.
According to HDFC Securities’ Senior Analyst of Commodities Saumil Gandhi, market participants are awaiting this week’s macroeconomic data, including outcome of the US Federal Reserve’s latest policy meeting on Wednesday.
Apart from that, the US Consumer Price Index (CPI) on Thursday and the Producer Price Index on Friday will also provide clues about the future path of Fed policy, Gandhi said.
Spot silver in the Asian trading hours traded 0.69 per cent higher at USD 30.29 per ounce. (PTI)
