Gold falls Rs 80; silver plunge Rs 390

Gold falls Rs 80; silver plunge Rs 390

Gold price fell Rs 80 to Rs 55,025 per 10 grams in the national capital on Thursday, according to HDFC Securities.

The precious metal had closed at Rs 55,105 per 10 grams in the previous trade.

“Spot gold prices in the Delhi markets traded at Rs 55,025 per 10 grams, down Rs 80 per 10 grams,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

In the overseas market, gold was trading flat at USD 1,815 per ounce while silver was down at USD 20.02 per ounce.

“COMEX Gold prices traded flat in the Asian trading hours on Thursday amid worries that more aggressive US interest rate rises are expected in the future from the Fed.

“However, focus turned to upcoming non-farm payroll data and another upbeat number that will reinforce expectations that Fed could remain hawkish on future rate hikes and will continue to weigh on bullion prices,” Sriram Iyer, Senior Research Analyst at Reliance Securities, said.