Gold falls Rs 1,000; silver jumps Rs 3,000

New Delhi: Gold prices fell by Rs 1,000 to Rs 1,23,400 per 10 grams in the national capital amid a firm dollar after the Federal Reserve hinted at a slower pace of rate cuts and progress in US-China trade talks.

The precious metal of 99.5 per cent purity depreciated by Rs 1,000 to Rs 1,22,800 per 10 grams from Wednesday’s close of Rs 1,23,800 per 10 grams, according to the All India Sarafa Association.

In the local bullion market, gold of 99.9 per cent purity had settled at Rs 1,24,400 per 10 grams in the previous market session.

However, silver prices jumped by Rs 3,300 to Rs 1,55,000 per kilogram. The white metal had ended at Rs 1,51,700 per kg on Wednesday, as per the association.

In the international market, spot gold snapped a four-day losing streak, rising by $53.26, or 1.36 per cent, at $3,983.87 per ounce. Spot silver was quoting 1.21 per cent higher to $48.14 an ounce in the overseas markets.