Gold falls by Rs 95 to Rs 59,505; silver flat at Rs 72,500
The yellow metal had settled at Rs 59,600 per 10 grams in the previous trade.
NEW DELHI: Gold prices eased by Rs 95 to Rs 59,505 per 10 grams in the national on Monday amid a fall in precious metal in the global markets, according to HDFC Securities.
The yellow metal had settled at Rs 59,600 per 10 grams in the previous trade. Silver, prices remained flat at Rs 72,500 per kilogramme. In the global markets, gold was trading lower at $1,923 per ounce while silver was flat at $23.09 per ounce.
Gold prices resumed trading on a slightly negative note following an uptick in the US dollar, Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. According to Praveen Singh - Associate VP, Fundamental Currencies and Commodities at Sharekhan by BNP Paribas, on the macroeconomic front, this week’s major focus will be US CPI inflation data (June), which is likely to extend its decline.
The US dollar may suffer on soft inflation data, thus investors are expected to buy the dips in gold.