The precious metal traded lower in Asia in morning trade.
The precious metal traded lower in Asia in morning trade.
Gold prices declined by ₹134 to ₹50,601 per 10 grams in the national capital on Wednesday in line with global trends, according to HDFC Securities.
In the previous trade, the precious metal had settled at ₹50,735 per 10 grams.
Silver also declined by ₹169 to ₹62,787 per kg from ₹62,956 per kg in the previous trade.
The rupee appreciated 8 paise to settle at 76.40 (provisional) against the U.S. dollar on Wednesday following the RBI’s surprise rate hike ahead of the U.S. Federal Reserve’s policy decision.
The precious metal traded lower in Asia in morning trade due to a strong dollar and ahead of the policy decision by the U.S. Federal Reserve.
Gold prices traded steady in the U.S. with spot gold prices at COMEX trading marginally up at $1,869 per ounce on Wednesday. Silver was flat at $22.61 per ounce.
“Gold prices held steady as U.S. treasury yields rose and the upcoming policy decision from the U.S. Federal Reserve lowered demand for gold,” said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.
