Gold drops Rs 264 on muted global trend
Gold in the national capital on Wednesday dipped Rs 264 to Rs 45,783 per 10 gram in line with drop-in global precious metal prices.
Precious metals gain on weaker greenback
New Delhi: Gold in the national capital on Wednesday dipped Rs 264 to Rs 45,783 per 10 gram in line with drop-in global precious metal prices.
In the previous trade, the yellow metal had closed at Rs 46,047 per 10 gram. Silver also went lower by Rs 60 to Rs 67,472 per kilogram from Rs 67,532 per kilogram in the previous trade. In the international market, gold was quoting lower at $1,755 per ounce and silver was trading flat at $25.80 per ounce.
"Gold prices extended decline falling to two month low on Wednesday. Gold prices witnessed selling on dollar rally," according to HDFC Securities, senior analyst (commodities), Tapan Patel. Navneet Damani, V-P (commodities research), Motilal Oswal Financial Services, adds: "Gold tumbled to two-month lows, taking a new crack at mid-$1,700 lows amidst a sharp rebound in the dollar."
