Amid the fall in the prices of precious metals in the global markets, the price of gold fell by Rs 150 to Rs 72,600 per 10 grams in the Delhi bullion market on Tuesday. In the last session, gold had closed at Rs 72,750 per 10 grams. During this period, silver fell by Rs 750 to Rs 83,750 per kg. During the last trading session, silver had closed at Rs 84,500 per kg.
“The spot price of gold (24 carat) in Delhi markets is trading down by Rs 150 at Rs 72,600 per 10 grams,” said Saumil Gandhi, senior analyst (commodity), HDFC Securities. In international markets, COMEX is trading down by Rs 150. The spot price of gold fell by $13 to $2,320 an ounce.
Gandhi said, “Weakness in gold prices continued. Investors are keeping an eye on the US Fed’s decision on interest rates on May 1. This is the reason why selling was seen in gold.” Jatin Trivedi, VP Research Analyst (Commodity & Currency), LKP Securities, said, “Gold prices are expected to continue to remain volatile in the coming week as key data like nonfarm payrolls and unemployment data are due to come during this period.”
