Gold Prices Dip Amid Global Bearish Trends and US Dollar Surge

Gold prices in the national capital fell by Rs 200 to Rs 1,00,170 per 10 grams, following a bearish trend in global markets. Silver prices remained stable, while key US economic data is anticipated to influence bullion prices. Analysts expect gold's positive bias if the US job market weakens.

Gold prices in the national capital experienced a dip of Rs 200, settling at Rs 1,00,170 per 10 grams. This decline aligns with the global bearish trend and selling by stockists, reported the All India Sarafa Association.

Commodities expert Saumil Gandhi pointed out that the strengthening US dollar and improved treasury yields have put downward pressure on gold. On the other hand, silver maintained a steady pace, valued at Rs 1,15,000 per kg.

Traders anticipate that upcoming US economic data, particularly related to jobless claims and PCE inflation, will significantly impact bullion prices. The market expects shifts either way depending on the outcomes, with further insights expected after the US Federal Reserve's upcoming FOMC meeting.

(With inputs from agencies.)