Gold futures fall on low demand
New Delhi: Gold prices gained Rs200 to Rs63,300 per 10 grams in the national capital on Tuesday amid a jump in precious metal prices in overseas markets, according to HDFC Securities. The prices of the yellow metal ended at Rs63,100 per 10 grams in the previous trade. Silver also advanced Rs300 to Rs76,700 per kilogram, while it had closed at Rs76,400 per kg in the previous close.
In the international markets, spot gold at Comex was trading at $2,038 per ounce, up by $7 from the previous close. “Gold traded higher on Tuesday, boosted by falling US Treasury yields and safe haven buying,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. Moreover, silver was also up at $23.15 per ounce in the global markets, while it had closed at $22.99 per ounce in the previous trade. Investors are also looking forward to the US Fed’s FOMC (Federal Open Market Committee) meeting which could provide cues on interest rate decision, Gandhi added.
