Gold falls ₹110; silver declines ₹550
The Hindu
Silver also slumped by ₹550 to ₹63,000 per kg
Gold price fell by ₹110 to ₹55,550 per 10 gram in the national capital on February 28 amid a fall in global rates of the precious metal, according to HDFC Securities.
In the previous trade, the yellow metal had closed at ₹55,660 per 10 gram.
Silver also slumped by ₹550 to ₹63,000 per kg.
"Spot gold prices in the Delhi markets traded at ₹55,550 per 10 gram, down ₹110 per 10 gram," said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.
In the overseas market, both gold and silver were quoting lower at $1,808 per ounce and $20.47 per ounce, respectively.
"COMEX gold reversed early gains to trade marginally in the red after the US dollar rebounded from early morning weakness in the Asian trading hours on Tuesday.
"However, investors remain away as concerns over rising interest rates and anticipation of key US economic readings this week, which could keep prices range bound," Sriram Iyer, Senior research analyst at Reliance securities, said.
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