New Delhi, Jun 19 Gold prices in the national capital on Thursday fell by Rs 150 to Rs 1,00,560 per 10 gram amid a fall in the prices of precious metals in the international markets, according to the All India Sarafa Association.
The precious metal of 99.9 percent purity had closed at Rs 1,00,710 per 10 gram in the previous market session.
Gold of 99.5 percent purity on Thursday fell by Rs 150 to Rs 99,800 per 10 gram (inclusive of all taxes). On Wednesday, the yellow metal had closed at Rs 99,950 per 10 gram.
Silver also retreated from record levels and fell by Rs 1,000 to Rs 1,07,200 per kg (inclusive of all taxes). The white metal had hit an all-time high of Rs 1,08,200 per kg on Wednesday.
Meanwhile, spot gold fell marginally to $3,365.90 an ounce in global markets. “Gold prices fell below $3,390 an ounce as the US dollar strengthened after the Federal Reserve decided to keep interest rates unchanged at 4.254.50 per cent,” said Kaynat Chainwala, AVP-Commodity Research, Kotak Securities.
On Wednesday, the Federal Reserve kept interest rates unchanged as forecast and revised its economic projections for the US monetary policy scenario. US markets and banks are closed on Thursday to mark ‘Juneteenth’.
According to Jatin Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, gold was volatile as the market reacted to the US Fed’s policy stance, which indicated no immediate interest rate cut and raised the possibility of further easing of rates for at least six months. Trivedi said despite the Fed’s accommodative stance, the ongoing geopolitical tensions between Iran and Israel provide protection to gold.
Spot silver fell 1 per cent to $36.37 an ounce.
