Gold Prices Decline for Third Day in Delhi Amid Subdued Demand
Gold prices have declined for the third consecutive trading session in Delhi, falling by Rs 100 to Rs 1,58,000 per 10 grams due to subdued demand. According to the All India Sarafa Association, gold had closed at Rs 1,58,100 per 10 grams in the previous session.
Silver, however, has moved in the opposite direction and extended its gains for the second consecutive session. It jumped by Rs 2,300 to Rs 2,43,400 per kg compared to Rs 2,41,100 per kg on Tuesday.
Gold prices have been range-bound as investors adopt a cautious approach ahead of key US inflation data due later this week. Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said that rising crude oil prices and escalating tensions in West Asia have renewed concerns over persistent inflation.