Gold and silver prices fell from record highs in the national capital on Tuesday due to weak global trend and profit-booking. Gold softened by Rs 550 per 10 grams.
According to HDFC Securities, gold prices were hit by sharp comments from one of the members of the US Federal Reserve, with one member of the Fed saying that interest rates will be kept at the current levels for a longer period to bring inflation back on target. Will need to continue.
Gold fell by Rs 550 per 10 grams to Rs 74,650 per 10 grams. In the last session, gold had closed at Rs 75,200 per 10 grams. During this period, silver also fell by Rs 1,600 to Rs 94,500 per kg. In the last session it closed at Rs 96,100 per kg.
Saumil Gandhi, senior analyst (commodity), HDFC Securities, said, “The spot price of 24 carat gold fell by Rs 550 to Rs 74,650 per 10 grams in the Delhi market.
