New Delhi, Jul 29 (PTI) Gold prices fell Rs 200 to Rs 97,820 per 10 grams in the national capital on Tuesday due to persistent selling by stockists, according to the All India Sarafa Association.
The precious metal of 99.9 per cent purity had finished at Rs 98,020 per 10 grams on Monday.
In the local markets, gold of 99.5 per cent purity extended losses for the fifth straight day, falling Rs 200 to Rs 97,550 per 10 grams (inclusive of all taxes) on Tuesday. It had ended at Rs 97,750 per 10 grams in the previous market session.
“Gold prices eased following confirmation of a trade deal between the US and EU. Further, expectations that the US Federal Reserve will hold interest rates steady in this week’s FOMC meeting have further supported the dollar,” Abans Financial Services’ Chief Executive Officer Chintan Mehta said.
However, silver prices remained flat at Rs 1,13,000 per kilogram (inclusive of all taxes) on Tuesday, as per the Sarafa Association.
Meanwhile, spot gold rose USD 9.48, or 0.29 per cent, to USD 3,324.11 per ounce in the international markets.
“Gold is trading near USD 3,315-level as markets await key US macroeconomic data, including JOLTS job openings and CB Consumer Confidence later in the day, while US trade talks continue with Canada and South Korea,” Kaynat Chainwala, AVP-Commodity Research at Kotak Securities, said.
However, spot silver went marginally lower at USD 38.14 per ounce in global markets.
“Investors will also be awaiting key US macroeconomic data — ADP non-farm employment change, non-farm payrolls, unemployment rate, and GDP — lined up this week alongside the Fed’s rate decision,” Jateen Trivedi, VP Research Analyst — Commodity and Currency, LKP Securities, said. PTI HG TRB TRB
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