According to HDFC Securities, gold prices fell by Rs 615 to Rs 55,095 per 10 grams in the national capital today amid lower prices of precious metals in foreign markets.
The yellow metal closed at Rs 55,710 per 10 grams in the previous trade. Silver also fell by Rs 2,285 to Rs 62,025 per kg.
“Spot gold prices in Delhi markets were trading at Rs 55,095 per 10 grams, down by Rs 615 per 10 grams,” said Saumil Gandhi, senior commodity analyst at HDFC Securities.
In foreign markets, the price of both gold and silver was estimated at $1,814 and $20.05 per ounce, respectively.
Comex Gold prices were negative during Asian trading hours on Wednesday.
Gold prices extended losses from the previous session and fell to a one-week low after US Federal Reserve Chairman Jerome Powell said on Tuesday that interest rates may need to be higher than previously expected to curb inflationary pressures, Gandy said.
(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)
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