Gold in the national capital on June 16 dipped marginally by ₹48 to ₹47,814 per 10 gram amid muted global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at ₹47,862 per 10 gram.
In contrast, silver rose by ₹340 to ₹70,589 per kg, from ₹70,249 per kg in the previous trade.
In the international market, both gold and silver were trading flat at $1,859 per ounce and $27.78 per ounce, respectively.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices traded near four-week lows as traders and investors are awaiting outcome from the U.S. FOMC meeting.” Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, “Gold prices traded steady after a fall witnessed in the yesterday’s [June 15] session, due to a stronger dollar and an uptick in U.S. yields as investors look forward to the outcome of the U.S. Federal Reserve meeting.”