Gold prices have marginally fallen
According to HDFC Securities, gold prices in the national capital fell by Rs 29 to Rs 46,903 per 10 gram on Wednesday, indicating a drop in global precious metal prices overnight. The precious metal had closed at Rs 46,932 per 10 gram on the previous day.
Silver fell Rs 762 to Rs 68,560 a kilogram, down from Rs 69,322 in the previous trade.
The yellow metal was at up to $1,805 per ounce on the international market, while silver was unchanged at $26.33 per ounce. According to HDFC Securities’ Senior Analyst (Commodities), Tapan Patel, “gold prices were boosted by a weaker dollar and a drop in US government yields.”
“The precious metal’s prices hover around three weeks high after breaching the $1,800 level in the previous session, amidst volatility in the dollar as market awaits the release of minutes from the US Federal Reserve’s June policy meeting,” said Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services.