NEW DELHI, Dec 7 (PTI): Gold price dipped by Rs 35 to Rs 54,054 per 10 grams in the national capital on Wednesday amid a fall in rates of the precious metal overseas, according to HDFC Securities.
In the previous trade, the yellow metal had settled at Rs 54,089 per 10 grams.
Silver also declined by Rs 251 to Rs 65,928 per kilogram.
“Gold price is trading slightly lower amid risk-off moods on recession fears, which was driving a move back to safe havens,” said Dilip Parmar, research analyst at HDFC Securities.
In the international market, gold was quoting lower at USD 1,772.8 per ounce while silver was down at USD 22.30 per ounce.
“Gold prices struggled for momentum in early Asian trade, as investors looked to next week’s US Federal Reserve policy meeting for clues on the pace of rate hikes,” said Navneet Damani, senior VP – Commodity Research at Motilal Oswal Financial Services.