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Precious metals: Gold plunges by Rs 505, silver declines by Rs 828

Gold prices plunged by Rs 505 to Rs 46,518 per 10 gram in the national capital on Wednesday following a plunge in the global steel prices, in step with HDFC Securities.

Within the outdated exchange, the vital steel had closed at Rs 47,023 per 10 gram.

In-tandem with ragged gold prices, silver also declined by Rs 828 to Rs 67,312 per kg from Rs 68,140 per kg in the outdated exchange.

Within the global market, gold became once quoting lower at USD 1,769 per ounce and silver became once flat at USD 26.02 per ounce.

Gold prices traded lower with put gold prices at COMEX trading at $1,769 per ounce on Wednesday. Gold prices traded below tension on dollar recovery forward of US FOMC (Federal Begin Market Committee) meeting,” in step with HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Navneet Damani, VP Commodities Analysis, Motilal Oswal Financial Companies, acknowledged, “After trading exact for the first two classes on this week, gold prices eased a cramped as US yields rose in the outdated day’s session. Market contributors awaited the US Fed’s assertion due later in the day, for cues on the central financial institution’s monetary policy.

(Only the headline and characterize of this document can had been transformed by the Business Common group; the leisure of the tell is auto-generated from a syndicated feed.)

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