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Friday, July 26, 2024

Gold tumbles Rs 350, silver plummets Rs 1,000

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NEW DELHI, Dec 29: Gold prices tumbled Rs 350 to Rs 63,950 per 10 grams in the national capital on Friday amid weak cues in global markets, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 64,300 per 10 grams.

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Silver also plummeted Rs 1,000 to Rs 78,500 per kilogram, while it had settled at Rs 79,500 per kg in the previous close.

Meanwhile, in the futures trade, the February contract of gold declined Rs 244 to Rs 63,145 per 10 grams on the MCX. Also, the March contract of silver plunged Rs 1,166 to Rs 73,793 per kilogram on the bourse.

In the overseas markets, gold and silver were trading lower at USD 2,070 per ounce and USD 23.80 per ounce, respectively.

Spot gold at Comex was trading at USD 2,070 per ounce, down by USD 10 from the previous close in the international markets.

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Comex gold dropped as traders locked profit after the precious metal prices hit a three-week high in the previous session, HDFC Securities’ Senior Analyst of Commodities Saumil Gandhi said.

Following a recovery in the dollar and rising US Treasury yields are also additional factors that weighed down on the yellow metal, Gandhi added. (PTI)


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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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