Commodity Market: Gold falls Rs 563; silver dips Rs 1,186

Commodity- Gold Vs Silver: According to HDFC Securities, gold in the national capital fell Rs 563 to Rs 48,215 per 10 kilos on Thursday due to sluggish international precious metal prices. The precious metal settled at Rs 48,778 per 10 gramme in the previous trade. Silver fell Rs 1,186 to Rs 62,792 per kg, down from Rs 63,978 in the previous day.

Gold was down at USD 1,810 per ounce on the international market, while silver was unchanged at USD 23.10 per ounce.

"Gold prices fell on Thursday, with spot gold prices on the COMEX trading 0.45% lower at USD 1,810 per ounce. Following the US FOMC decision, gold prices fell," said Tapan Patel, Senior Analyst (Commodities), HDFC Securities. "Gold inched lower after the FOMC policy meet, which was in line with market expectations, as the Fed decided on March rate hikes, which pushed up US Treasury yields and the dollar, while uncertainty over Ukraine capped bullion's losses," said Navneet Damani, Senior VP – Commodities Research, Motilal Oswal Financial Services.

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