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Gold falls Rs 50; silver jumps Rs 600

Gold falls Rs 50; silver jumps Rs 600

New Delhi: Gold prices fell Rs50 to Rs74,600 per 10 grams in the national capital on Wednesday amid fall in precious metal rates in overseas markets, according to HDFC Securities. The yellow metal had closed at Rs74,650 per 10 grams in the previous session. However, silver prices jumped Rs600 to Rs95,100 per kg. It had settled at Rs94,500 per kg in the previous session.

In the global markets, spot gold at Comex was trading at $2,417 per ounce, down $3 from the previous close. “Gold fell further on Wednesday as investors evaluated recent statements from the US Federal Reserve officials that downplayed the timing of interest rate cuts. “Traders are now closely monitoring US Fed’s Federal Open Market Committee (FOMC) meeting minutes to be release later on Wednesday, as they could offer fresh perspectives on the US central bank’s monetary policy trajectory,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

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