Bullion Market Closing: Gold Remains Almost Flat, Silver Falls Rs 91

Gold on Thursday went down marginally by Rs 3 to Rs 38,535 per 10 gram in the national capital on absence of demand, according to HDFC Securities.

In the previous trade, the yellow metal had closed at Rs 38,538 per 10 gram, it said. Silver prices also declined by Rs 91 to Rs 45,293 per kg from Wednesday’s close of Rs 45,384 per kg. “Spot gold for 24 karat in Delhi was trading marginally down by Rs 3 in the absence of spot demand.

The physical gold demand remained subdued due to higher gold prices in festival season,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee opened on a flat note and appreciated by 3 paise to 71.32 against the dollar in early trade on Thursday. In the global market, gold and silver were trading with marginal gains at USD 1,457 per ounce and USD 17 an ounce, respectively.

“Gold prices fluctuated on the US-China trade deal optimism and escalated situation in Hong Kong amid public protest,” he added.