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Gold falls Rs 50; silver climbs Rs 100

Gold falls Rs 50; silver climbs Rs 100

New Delhi: Gold price fell by Rs50 to Rs66,150 per 10 grams in the national capital on Friday amid a decline in precious metal prices in global markets, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs66,200 per 10 grams. However, silver climbed Rs100 to Rs77,100 per kg. In the previous close, it had settled at Rs77,000 per kg. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs66,150 per 10 grams, down by Rs50 from the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at $2,166 per ounce, down $3 from the previous close. “Gold prices traded slightly lower on Friday following inflation data, which cooled the expectations of early monetary policy interest rate cuts by the US Federal Reserve. “Treasury yields and the dollar index rose following the release of US Producer Price Index data, which also weighed down on precious metal price,” Gandhi added. However, silver was quoting higher at $25.05 per ounce, while it had ended at $24.92 per ounce in the previous close.

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