Active Stocks
Tue Sep 26 2023 15:29:56
  1. Tata Steel share price
  2. 129.05 1.33%
  1. Tata Motors share price
  2. 619.95 0.22%
  1. HDFC Bank share price
  2. 1,537.65 0.39%
  1. State Bank Of India share price
  2. 594 -0.02%
  1. ITC share price
  2. 442.4 -0.05%
Business News/ Markets / Commodities/  Gold prices decline by 420, silver prices jump by 500

The prices of gold declined by 420 to 60,380 per 10 gram in the national capital on Thursday amid a fall in prices of the precious metal overseas.

The yellow metal had closed at 60,800 per 10 gram in the previous trade. Silver, however, jumped 500 to 73,300 per kilogram.

"Spot gold prices for the Delhi market traded at 60,380/ per 10 gram, down by 420 per 10 gram," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

Gold prices came under pressure on the back of a rally in US bond yields on expectations of further tightening of the interest rates by the US Fed, Gandhi said.

In the international market, gold rose on Thursday on a slight pullback in the dollar but investor caution surrounding the Federal Reserve's interest rate strategy and other economic cues that may influence it kept bullion hemmed in a relatively tight range.

Spot gold rose 0.4% to $1,946.58 per ounce by 0937 GMT after shedding 1% in the previous session. U.S. gold futures rose 0.2% to $1,961.50.

Gold prices tumbled on Wednesday settling at their lowest level in more than a week as investors awaited further clues on the Federal Reserve's interest rate path . Further, bullion prices were pressurised as US 10 -year treasury yields rose to a more than one -week high


"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Commodity News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 08 Jun 2023, 05:08 PM IST
Next Story
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App