Gold fell Rs 50 to Rs 59,600 per 10 gram in the national capital on Friday amid weak cues in global markets, according to HDFC Securities. The precious metal had closed at Rs 59,650 per 10 gram in the previous trade.
Silver also declined Rs 400 to Rs 76,300 per kilogram.
In the overseas markets, gold and silver were quoting lower at USD 1,915 per ounce and USD 24.10 per ounce, respectively.
“Comex gold prices retreated from a two-week high following strength in the dollar index. “Investors focus now on key speech by Federal Reserve Chair Jerome Powell at Jackson Hole symposium…where he is expected to offer clues on the interest-rate outlook,” Saumil Gandhi, senior analyst, commodities at HDFC Securities said.
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