Silver falls by Rs 38 while gold rises by Rs 128
According to HDFC Securities, gold prices increased by Rs 128 to Rs 57,275 per 10 grammes on Tuesday in the national capital due to strong worldwide trends.
The price of 10 grammes of yellow metal in the last transaction was Rs 57,147.
However, the price of silver dropped by Rs 38 to Rs 67,975 per kg.
Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, reported that spot gold prices traded at Rs 57,275 per 10 kilos in the Delhi markets, an increase of Rs 128 per 10 grammes.
Silver was unchanged at USD 22.42 per ounce while gold was trading higher on international markets at USD 1,874 per ounce.
"Gold prices should consolidate in range for the day as investors eye the Federal Reserve Chair Jerome Powell's speech later in the day to gauge the US central bank's monetary policy path after latest stronger non-farm payrolls data," Gandhi said. "Comex gold prices traded in green in Asian trading hours on Tuesday.
"This week's attention will be on the meeting of the RBI's monetary policy committee. On the domestic front, prices may fluctuate between Rs 56,600 and Rs 57,350, according to Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services. The overall trend on the COMEX may be between USD 1,855 and USD 1,895, he added.