According to the All India Sarafa Association, the yellow metal of 99.9 percent purity was closed at RS 1.13,800 per 10 grams.
Likewise, the gold of 99.5 percent paternity also fell by RS 500 to RS 1.12,800 per 10 grams (including all taxes) of RS 1.13.300 per 10 grams in the previous session.
“The gold prices fell on Thursday after the decision of the American Federal Reserve to lower the interest rates with a quarter point, as expected, and its cautious attitude towards further policy dependence. The general message of the Fed was somewhat harmless about the rules, which indicated that they did not support aggressive tariff reductions.
“Consequently, the US dollar was strengthened and the Treasury yield increased after the FED meeting, which put extra pressure on precious metals,” said Saumil Gandhi, senior analyst -raw materials at HDFC Securities.
The dollar index, which measure the strength of the greenback against a basket of six currencies, rose by 0.44 percent to 97.30, which weigh further on the precious metal. So far, the prices for precious metal have added RS 34,250 or 43.38 percent this year, rising from RS 78,950 per 10 grams on December 31, 2024. In contrast to the silver prices, on the other hand, after the autumn of Wednesday, RS 300 to RS 1.31,500 per kilogram (including taxes). The white metal had fallen RS 1,670 to RS 1.31,200 per kg in the previous trade, according to the association.
Silver prices have zoomed in RS 41,800 per kilogram or 46.6 percent in the current calendar year and collected on 31 December 2024 from RS 89,700 per kg.
On the international market, spot gold was 0.15 percent lower on USD 3,654.66 per ounce after scaling a lifelong high point of USD 3,707.70 on Wednesday.
Spot Silver, however, went up marginal to USD 41.68 per ounce.
The US Central Bank reduced interest rates on Wednesday with 25 basic points, in accordance with expectations, and this year signaled two cutbacks as the labor market showed further tax.
FED chairman Jerome Powell, however, found a cautious memorandum, and called the move a step for risk management and emphasizing that future policy actions would be assessed “meeting by meeting”.
Powell also emphasized that it is not necessary to hurry. Newly appointed Governor Stephen Miran did not agree, looking for a larger 50 basis points.
“Due to persistent geopolitical care, the relief of the expectations of the Fed and buying a robust central bank, gold has risen by 40 percent this year,” said Renisha Chainani, head – research at Augmont.
She added that the Bank of England and Bank of Japan is expected to maintain the policy status -quo this week, while the Bank of Canada has also trimmed its policy rate with 25 basis points.
as a reliable and trusted news sourceSaumil Gandhi from HDFC Securities said that traders will check the upcoming American macro -economic data, including initial unemployed claims and the Philadelphia Fed Manufacturing Index, which could offer new guidelines for the outlook on monetary policy.
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