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Gold-Silver Price Drop | Heavy fall in the price of gold, silver also slipped

Gold price drops by Rs 35, silver slips by Rs 251

New Delhi: Amid softening of prices overseas, gold fell by Rs 35 and fell to Rs 54,054 per 10 grams in the Delhi bullion market on Wednesday. HDFC Securities gave this information. Earlier, gold had closed at Rs 54,089 per 10 grams in the trading session. Silver also fell by Rs 251 to Rs 65,928 per kg.

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Dilip Parmar, Research Analyst, HDFC Securities, said, “Gold prices declined marginally due to risk aversion due to recessionary fears.” In the international market, gold was trading with losses at $1,772.8 an ounce. Silver was also trading with losses at $22.30 an ounce.

Navneet Damani, senior vice-president (commodity market research), Motilal Oswal Financial Services, said, “Investors are eyeing the US Federal Reserve meeting next week. This will give a clear outlook on the pace of policy rate hike. Due to this, gold prices were seen volatile in the Asian trade. (agency)

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