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Gold continues to slide for 3rd day
Tanks Rs 900 to Rs 72,650; Nifty breaches 23k level for the first time in intra-day trade

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Gold continues to slide for 3rd day =>


May 25, 2024 10:00 AM | UPDATED: May 25, 2024 12:47 AM | 5 min read

#New DelhiGold prices saw yet another steep fall on Friday and settled Rs 900 lower at Rs 72,650 per 10 grams in the national capital amid subdued trend in the global markets.The precious metal had plunged Rs 1,050 to close at Rs 73,550 per 10 grams in the previous session on Thursday, a day after falling marginally by Rs 50 on Wednesday.Extending its decline for the third day in a row, the yellow metal declined after stronger-than-expected US macroeconomic data, which reinforced bets that the US Federal Reserve would keep interest rates higher for a longer period, according to HDFC Securities.​​​​​​​“Gold has traded weak this week, experiencing a significant sell-off of more than Rs 2,800 from weekly highs. Meanwhile, silver also plunged Rs 500 to Rs 92,100 per kg.

Nifty breaches 23k level for first time#MumbaiEquity benchmark indices Sensex and Nifty scaled new peaks on Friday in intraday deals before closing marginally lower due to profit booking in FMCG, IT and healthcare stocks. The NSE Nifty breached the 23,000 mark for the first time in early trade but it pared all the gains and ended with at 22,957.10. PTI