Prices of Gold remains flat at `71,800, silver rises by Rs 200

New Delhi: Gold prices remained flat at Rs 71,800 per 10 grams in the national capital on Monday.

However, silver prices rose Rs 200 to Rs 92,100 per kg. In the previous session, it had closed at Rs 91,900 per kg.

In the overseas markets, spot gold at Comex was trading at $2,293 per ounce, down $1 from the previous close.

However, silver was quoted higher at $29.50 per ounce. It had ended at $29.15 per ounce in the previous session.

“Gold prices traded within a narrow range, after a minor gap-down opening. This movement was mainly influenced by the strengthening US dollar, following strong nonfarm payrolls data,” Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said.

“Additionally, profit booking occurred due to indications that China might halt its gold purchases, suggesting that the yellow metal prices could be capped for a while,” Trivedi said.

Traders will now shift their focus to the upcoming US policy decision and Consumer Price Index (CPI) inflation data, both due on June 12, which will further provide more insights on the gold prices, he added.