Gold, silver prices fall on weak global cues
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New Delhi: Gold price fell by Rs180 to Rs60,250 per 10 gram in the national capital on Wednesday amid weak global cues, according to HDFC Securities. The precious metal had closed at Rs60,430 per 10 gram in the previous trade. Silver also declined Rs400 to Rs76,700 per kilogram.
In the overseas market, gold and silver were quoting lower at $1,949 per ounce and $24.29 per ounce, respectively. Gold faced selling pressure following a weak demand outlook and a firm US dollar.
“Investors are now looking at the US ADP non-farm employment change report, which is due later on Wednesday. Meanwhile, despite a downgrade to the US credit rating, the dollar is hovering around 102 level,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.
