The precious metal was trading lower in Asia during morning trade.
The precious metal was trading lower in Asia during morning trade.
Gold prices in the state capital fell by ₹134 to ₹50,601 to ₹50,601 per 10 grams on Wednesday, according to HDFC Securities.
In previous trading, the precious metal had settled at ₹50,735 per 10 grams.
Silver was also down ₹169 to ₹62,787 per kg from ₹62,956 per kg in previous trade.
The rupee appreciated 8 paise to 76.40 (prelim) against the US dollar on Wednesday after the RBI made a surprise rate hike ahead of the Federal Reserve’s monetary policy decision.
The precious metal traded lower in Asia in morning trade on a strong dollar and ahead of the Federal Reserve’s policy decision.
Gold prices were trading steady in the US, with spot gold prices on the COMEX rising marginally to $1,869 an ounce on Wednesday. Silver was flat at $22.61 an ounce.
“Gold prices held steady as US Treasury yields rose and the upcoming Federal Reserve policy decision reduced demand for gold,” said Tapan Patel, senior analyst (commodities), HDFC Securities.
