Gold falls Rs 100; silver plunges Rs 400

Gold prices fell Rs 100 to Rs 60,150 per 10 grams in the national capital on Friday amid weak trends in global markets, according to HDFC Securities. The precious metal had settled at Rs 60,250 per 10 grams in the previous trade.

Silver also plunged Rs 400 to Rs 77,100 per kg.

Gold prices retreated from a multi-week high amid mixed US economic data and an uptick in the dollar index, Saumil Gandhi, senior analyst – Commodities at HDFC Securities, said.
In the international markets, gold and silver prices were down at USD 1,942 per ounce and USD 24.50 per ounce, respectively. “Focus now shifts to manufacturing PMI data from major economies and to the all-important US unemployment rate and non-farm payrolls data scheduled later in the evening, which could trigger further volatility in bullions,” Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services, said.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

This article was originally published by Indiatimes.com. Read the original article here.