Gold falls ₹105; silver tumbles ₹833

Gold jewellery is displayed at a shop in New Delhi. File
| Photo Credit: Reuters

Gold price fell ₹105 to ₹56,160 per 10 grams in the national capital on January 10, according to HDFC Securities.

The yellow metal had ended at ₹56,265 per 10 grams in the previous trade.

Silver also tumbled ₹833 to ₹68,725 per kilogram.

“Comex gold prices traded flat in Asian hours on Tuesday after the price surged to an eight-month high on Monday, sentiment supported by a drop in the U.S. dollar,” said an analyst at HDFC Securities.

In the overseas market, gold was trading flat at $1,872 per ounce while silver was down at $23.47 per ounce.

“Gold prices traded steady after inching higher hovering around the seven weeks high as investors largely focus on U.S. Fed Chair Jerome Powell’s speech for insights into the central bank’s rate hike path,” Navneet Damani, senior vp – commodity research at Motilal Oswal Financial Services, said.