In sporadic transactions, gold prices in the nation’s capital on Wednesday were unchanged at Rs 74,350 per 10 grams, despite a decline in international markets. Nonetheless, the price of silver decreased by Rs 400 to Rs 87,800 per kilogram. It had closed Tuesday’s previous session at Rs 88,200 per kg.
In the meantime, 10 grams of 99.5% pure gold was priced flat at Rs 74,000. The decline in the price of silver was ascribed by traders to inadequate consumption by industrial units and external factors.
Comex gold is currently trading at USD 2,542.20 per ounce on foreign exchange markets, down USD 10.70 or 0.42 percent. “Due to a recovery in the US dollar, gold prices saw a slight decrease during European trading hours on Wednesday,” stated Senior Analyst of Commodities at HDFC Securities.
Gold prices have been supported as a safe-haven asset by rising geopolitical tensions, particularly the intensifying Israel-Hezbollah war. In the international markets, silver was quoting at a lower price of USD 29.93 per ounce.
