Gold declines ₹54, silver tumbles ₹573 on global cues

In the previous trade, gold had settled at ₹45,134 per 10 gram.

Gold prices declined by ₹54 to ₹45,080 per 10 gram in the national capital on Tuesday in line with weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had settled at ₹45,134 per 10 gram.

Silver prices declined sharply by ₹573 to ₹58,961 per kg from ₹59,534 per kg in the previous trade.

In the international market, gold was trading lower at $1,743 per ounce and silver was flat at $22.37 per ounce.

"The rise in US bond yields have pressured gold prices to trade weak," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, "Gold prices eased, hurt by a stronger dollar and a sharp uptick in US Treasury yields, while investors awaited more cues from Federal Reserve officials on the central bank’s monetary policy shift."

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