Gold prices declined by Rs 123 to Rs 46,505 per 10 grams in the national capital on Tuesday amid weak international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,628 per 10 gram. Silver prices also went lower by Rs 206 to Rs 65,710 per kg, from Rs 65,916 per kg in the previous trade.
In the international market, gold was trading lower at USD 1,795 per ounce and silver was flat at USD 25.16 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Overall gold prices traded under pressure trading below USD 1,800, as traders and investors are being cautious ahead of the US FOMC meeting.”
Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, “Gold prices were steady, pinned below the key USD 1,800 level, as investors turned cautious ahead of this week’s US Federal Reserve meeting outcome.”
(With PTI Inputs)