Gold Prices Decline by Rs 100; Silver Drops Rs 400

Gold Prices Decline by Rs 100; Silver Drops Rs 400

Gold Prices Decline by Rs 100, September 1 (PTI) – Gold prices witnessed a decline of Rs 100 to reach Rs 60,150 per 10 grams in the national capital on Friday, influenced by weaker trends in the global markets, as reported by HDFC Securities.

In the previous trading session, the precious metal had settled at Rs 60,250 per 10 grams. Simultaneously, silver experienced a sharp drop of Rs 400, bringing its price to Rs 77,100 per kilogram.

The retreat in gold prices from a multi-week high can be attributed to mixed economic data in the United States and a strengthening dollar index, according to Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.

Gold and Silver Prices Today

On the international front, gold and silver prices were down at USD 1,942 per ounce and USD 24.50 per ounce, respectively.

Navneet Damani, Senior Vice-President of Commodity Research at Motilal Oswal Financial Services, noted, “The focus now shifts to manufacturing PMI data from major economies and the highly anticipated US unemployment rate and non-farm payrolls data scheduled for later in the evening, which could potentially introduce further volatility in the bullion market.”

Stay updated for the latest developments in the precious metals market as it continues to respond to global economic conditions.

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