According to HDFC Securities, gold prices fell by Rs 80 to Rs 56,880 per 10 grams in the national capital on January 30 due to weak local demand.
In the previous trade, the precious metal had closed at Rs 56,960 per 10 grams.
Silver also declined by Rs 180 to Rs 68,795 per kg from Rs 68,975 per kg.
An analyst at HDFC Securities said, “Gold prices in Delhi markets are trading at ₹56,880 per 10 grams, up ₹80 per 10 grams.”
According to analysts, retail demand in the Indian market remained sluggish due to higher prices and some dealers offered discounts to attract customers.
In the overseas market, gold was trading lower at $1,923 an ounce and silver at $23.66 an ounce.
Comex gold prices traded sideways to negative in Asian trading hours on Monday.
“Comex gold recovered after hitting a new high of $1,949.80 last week on profit-taking by short-term futures traders ahead of the FOMC meeting this week, though it was up 0.10 per cent on a weekly basis,” the analyst said. closed with.” ,