Gold falls by `100 to `73,310 per 10 grams, silver jumps by `180

Gold falls by `100 to `73,310 per 10 grams, silver jumps by `180

New Delhi: Gold prices fell by Rs 100 to Rs 73,310 per 10 grams in the national capital on Tuesday amid weak global cues, according to HDFC Securities.

The precious metal had settled at Rs 73,410 per 10 grams on Monday.

However, silver prices jumped by Rs 180 to Rs 94,450 per kg from Rs 94,270 per kg in the previous session.

Silver prices are expected to outperform the yellow metal in the near future, Parmar added.

On the overseas front, spot gold at Comex traded at $2,362 per ounce, down $11 per ounce against the previous close.

Traders will also keep an eye on more cues on US interest rates from testimony by Federal Reserve Chair Jerome Powell and key inflation data due through the week, Modi added.

However, silver was quoted higher at $31.03 per ounce. In the previous session, it had ended at $30.93 per ounce.

According to Prathamesh Mallya, DVP- Research, Non-Agri Commodities and Currencies at Angel One, gold prices dropped, pressured by a surge in equities and profit-taking after a recent rally driven by speculation of a potential US Federal Reserve rate cut in September.

The yellow metal prices are likely to stay subdued due to profit-taking, strong equities, and anticipation of key Fed statements and inflation data, Mallya added.

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