Gold falls to Rs 66,140 per 10 grams; silver declines Rs 100

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New Delhi: Gold price marginally fell Rs 10 to Rs 66,140 per 10 grams in the national capital on Monday, according to HDFC Securities. The precious metal had closed at Rs 66,150 per 10 grams in the previous trade. Silver also declined Rs 100 to Rs 77,000 per kg.

“Spot gold prices (24 carats) in the Delhi markets trading at Rs 66,140 per 10 grams, down Rs 10 from the previous close,” Dilip Parmar, Research Analyst at HDFC Securities, said. In the international markets, spot gold at Comex was trading at USD 2,156 per ounce, unchanged from its previous close.

Silver was also quoting lower at USD 25.11 per ounce. In the previous trade, it had settled at USD 25.19 per ounce. “Gold prices are down on continued profit-booking/long liquidation as traders position themselves ahead of the two key central bank’s policy outcomes, starting with the Bank of Japan on Tuesday and the US Federal Reserve on Wednesday.

“The former is expected to end its negative rate policy, while the latter is expected to keep rates unchanged but their forward guidance will be closely watched for further clues on the future path of the monetary policy outlook,” Pranav Mer, VP of Research (Commodity & Currency) at BlinkX and JM Financial, said.

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