Gold, silver prices fall; yellow metal trading at Rs 51,930 per 10 gram
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Gold prices continue its losing streak as the yellow metal falls Rs 540 as compared to previous day's rate. 10 gram of 24-carat gold is currently trading at Rs 51,930, whereas, 10 gram of 22-carat gold is selling at Rs 47,600 after witnessing a decline of Rs 500 as compared to previous day's rate.
Silver, on the other hand, is also witnessing a losing streak as the precious metal falls Rs 2,000. One kg of silver is currently selling at Rs 56,900.
Gold extended its selloff to an over nine-month low on Wednesday hurt by a stronger dollar, while the Federal Reserve's June meeting minutes established a more "restrictive" monetary policy.
In Delhi, Mumbai, Kerala, and Kolkata, 10 gram of 24-carat gold is selling at Rs 51,930, whereas, ten gram of 22-carat gold is trading at Rs 47,600. In Chennai, 10 gram of 24-carat gold and 22-carat gold is selling at Rs 51,710 and Rs 47,400 respectively.
In Delhi, Mumbai, and Kolkata, 1 kg of silver is currently selling at Rs 56,900, whereas, in Chennai, one kg of silver is trading at Rs 62,500.
Spot gold fell 1.4% to $1,738.99 per ounce by 2:52 p.m. ET (1852 GMT), after falling as much as 2.6% on Tuesday, largely unchanged after the release of the Fed minutes. Spot silver rose 0.1% to $19.22 per ounce.
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