NEW DELHI, SEP 8 (PTI): Gold prices extended their losses for the second straight session, falling by Rs 2,150 to Rs 1.58 lakh per 10 grams, in the national capital on Tuesday amid a weak trend in global markets.
The yellow metal of 99.9 per cent purity depreciated by Rs 2,150 to Rs 1,58,100 per 10 grams (inclusive of all taxes), according to the All India Sarafa Association.
It had settled at Rs 1,60,250 per 10 grams in the preceding session. However, silver resumed its upward momentum after remaining flat for the previous two sessions, rising by Rs 600 to Rs 2,41,100 per kilogram (inclusive of all taxes).
The white metal had jumped Rs 5,000 to Rs 2,40,500 per kg on September 3 and remained unchanged on September 4 and 7.
“Silver is recovering as a weak dollar supports precious metals, while market participants remain focused on the upcoming US inflation data and Federal Reserve rate expectations,” Gaurav Garg, Head of Research at brokerage platform Lemonn, said.
In the overseas markets, spot gold traded marginally lower at USD 4,404.44 per ounce, while silver rose 0.11 per cent to USD 66.25 per ounce.
