The prices of gold eased ₹170 to ₹60,650 per 10 grams in the national capital on Monday amid its fall in overseas markets.
The yellow metal had closed at ₹60,820 per 10 grams in the previous trade. Silver also went lower by ₹300 to ₹74,050 per kg.
“Gold prices resumed trading on a weaker note on Monday, with spot gold prices in the Delhi markets traded at ₹60,650/10 grams, down ₹170 per 10 grams,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.
In the international markets, gold and silver were trading lower at $1,959 per ounce and $24.10 per ounce, respectively.
Market players will pay close attention to US consumer inflation data tomorrow as it offers additional context for the US Fed’s upcoming interest rate decisions, Gandhi said.
Gold prices rose on Monday on a weaker dollar as investors positioned for key U.S. economic data and clues on the Federal Reserve’s interest rate path at its meeting this week.
Spot gold rose 0.2% to $1,964.10 per ounce by 8:09 a.m. ET (1209 GMT). U.S. gold futures edged up 0.1% to $1,978.10.
A US consumer price index reading on Tuesday, also on the first day of the Fed’s meeting, is expected to show inflation cooled slightly in May but core prices are likely to have remained elevated.
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Updated: 12 Jun 2023, 06:56 PM IST