Gold falls Rs 50; silver climbs Rs 100

New Delhi, Mar 15 (PTI) Gold price fell by Rs 50 to Rs 66,150 per 10 grams in the national capital on Friday amid a decline in precious metal prices in global markets, according to HDFC Securities.

In the previous trade, the yellow metal had closed at Rs 66,200 per 10 grams.

However, silver climbed Rs 100 to Rs 77,100 per kg. In the previous close, it had settled at Rs 77,000 per kg.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 66,150 per 10 grams, down by Rs 50 from the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at USD 2,166 per ounce, down USD 3 from the previous close.

“Gold prices traded slightly lower on Friday following inflation data, which cooled the expectations of early monetary policy interest rate cuts by the US Federal Reserve.

“Treasury yields and the dollar index rose following the release of US Producer Price Index data, which also weighed down on precious metal price,” Gandhi added.

However, silver was quoting higher at USD 25.05 per ounce, while it had ended at USD 24.92 per ounce in the previous close.