New Delhi, Jun 26 (PTI) Gold prices stayed flat at Rs 98,600 per 10 grams in the national capital on Thursday, according to the All India Sarafa Association.
The precious metal of 99.5 per cent purity also remained flat at Rs 98,050 per 10 grams (inclusive of all taxes).
Silver prices also traded steady at Rs 1,03,100 per kilogram (inclusive of all taxes) on Thursday.
On the global front, spot gold went up marginally to USD 3,334.41 per ounce.
“Gold saw a modest gain on Thursday, buoyed by bargain buyers and a weaker US dollar. The US dollar index fell below 97.0, marking its lowest level since March 2022.
“This decline was triggered by disappointing US economic data, concerns about the country and economic health, and rising speculation about potential rate cuts. Additionally, growing fiscal concerns also weighed on the US dollar while lending support for precious metals,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.
Meanwhile, gold traders seem to have digested news regarding a multi-stage ceasefire between Iran and Israel. Attention now shifts to trade deals related developments, and upcoming US economic data, which are expected to influence bullion and US dollar trends in the upcoming days, Gandhi said.
Market participants are closely monitoring US macroeconomic data, including the US GDP, durable goods orders, and initial jobless claims, to gain further insights into the health of the American economy, he added.
