Gold falls Rs 100 to Rs 58,950/10 grams; silver prices remain flat

New Delhi, Jun 29 (PTI) Gold prices declined Rs 100 to Rs 58,950 per 10 grams in the national capital on Thursday amid a decline in precious metal prices globally, according to HDFC Securities.

The precious metal had closed at Rs 59,050 per 10 grams in the previous trade.

However, silver prices remained flat at Rs 71,250 per kilogramme.

Gold extended losses on Thursday, with spot gold prices in the Delhi markets trading at Rs 58,950/10 grams, down by Rs 100 per 10 grams, Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

In the overseas markets, gold was trading lower at USD 1,904 per ounce, while silver was flat at USD 22.74 per ounce.

Comex spot gold fell to nearly a level of USD 1,900 per ounce in today’s session as investors weighed the latest hawkish commentary from US Fed Chair Jerome Powell on Wednesday, which indicated that the policymakers could potentially raise interest rates in July and September, Gandhi said.