Gold fell by Rs 110 to Rs 55,550 per 10 grams. file. , Photo credits: G. Ramakrishna
According to HDFC Securities, gold prices fell by Rs 110 to Rs 55,550 per 10 grams in the national capital on February 28 amid a fall in global rates of the precious metal.
In the previous trade, the yellow metal had closed at Rs 55,660 per 10 grams.
Silver also declined by Rs 550 to close at Rs 63,000 per kg.
HDFC Securities Senior Analyst – Commodities, Saumil Gandhi said, “Gold prices are trading at ₹55,550 per 10 grams, up ₹110 per 10 grams in Delhi markets.”
In the overseas market, the prices of both gold and silver fell to $ 1,808 an ounce and $ 20.47 an ounce, respectively.
COMEX gold reversed early gains to trade marginally in the red after the US dollar rebounded from morning weakness in Asian trading hours on Tuesday.
“However, rising interest rates and anticipation of key US economic readings this week kept investors away,” said Sriram Iyer, senior research analyst at Reliance Securities.