Gold falls Rs 198 amid weak global trends

Gold price fell Rs 198 to Rs 56,972 per 10 grams in the national capital on Wednesday amid weak global trends, according to HDFC Securities.

The precious metal had settled at Rs 57,170 per 10 grams in the previous trade.

Silver also declined from Rs 270 to Rs 68,625 per kilogram.

''Spot gold price in the Delhi markets traded at Rs 56,972 per 10 gram, down Rs 198 per 10 gram,'' said an analyst at HDFC Securities.

In the overseas market, gold and silver were trading lower at USD 1,928 per ounce and USD 23.55 per ounce, respectively.

Comex spot gold price is trading lower by 0.40 percent at USD 1,928 per ounce against its previous close, the analyst said.

''Economic calendar is muted for the day with respect to the US, however, market participants will keep an eye on the US Q4 GDP estimates and Core PCE data scheduled tomorrow for further trigger in the market,'' Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)