Gold declines Rs 54, silver tumbles Rs 573 on global cues
In the international market, gold was trading lower at USD 1,743 per ounce and silver was flat at USD 22.37 per ounce
New Delhi: Gold prices declined by Rs 54 to Rs 45,080 per 10 gram in the national capital on Tuesday in line with weak global cues, according to HDFC Securities.
In the previous trade, the precious metal had settled at Rs 45,134 per 10 gram.
Silver prices declined sharply by Rs 573 to Rs 58,961 per kg from Rs 59,534 per kg in the previous trade.
In the international market, gold was trading lower at USD 1,743 per ounce and silver was flat at USD 22.37 per ounce.
"The rise in US bond yields have pressured gold prices to trade weak," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, "Gold prices eased, hurt by a stronger dollar and a sharp uptick in US Treasury yields, while investors awaited more cues from Federal Reserve officials on the central bank's monetary policy shift."