Gold falls Rs 52; silver tumbles Rs 850 | Bullion News

New Delhi: Gold prices fell by Rs 52 to Rs 56,475 per 10 grams in the national capital on Thursday amid weak global trends, according to HDFC Securities. The precious metal closed at Rs 56,527 per 10 grams in the previous trade. Silver also tumbled Rs 850 to Rs 68,500 per kg.

“Spot gold prices in the Delhi markets traded at Rs 56,475 per 10 grams, down Rs 52 per 10 grams,” said an analyst at HDFC Securities. In the overseas market, gold was quoting lower at USD 1,901 per ounce while silver was up at USD 24.23 per ounce. (Also Read: Digital Rupee cannot be exchanged for cash, only bank deposits will be used to issue eRupee: Report)

“BOJ policy meet yesterday disappointed the market expectations, as the central bank kept its policy unchanged and also with no changes in its YCC or interest rates weighing on the safe haven assets,” said Navneet Damani, Senior VP Commodity Research at Motilal Oswal Financial Services. (Also Read: I’m on visa, have limited time: Sacked Indian-origin Microsoft worker)

Market participants will keep their eyes on the US housing data, Philly fed manufacturing index, and comments from fed officials, Damani said.

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