New Delhi. The trend of decline in the prices of gold and silver continues. According to the All India Sarafa Association, gold prices continued to decline for the third consecutive session in the national capital on Friday. It fell by Rs 170 to Rs 78,130 per 10 grams. 24 carat gold closed at Rs 78,300 per 10 grams on Thursday. The attitude of jewelers and stockists towards gold remained sluggish, due to which there has been a softening in the price of gold.

At the same time, the price of silver also fell by Rs 1,850 to Rs 88,150 per kg. In the last trading session, silver became cheaper by Rs 2,000 and closed at Rs 90,000 per kg. Traders say that there was not much demand for silver from industrial units and coin makers. Due to this, the prices of silver have fallen.

What is the expert's opinion

Jatin Trivedi, VP Research Analyst, Commodity & Currency, LKP Securities, said, “Traders did not show much enthusiasm for gold today. Traders are avoiding taking big risks amid uncertainty over interest rates. Although the Fed has decided to keep rates low, its estimates indicate further rate cuts. This has kept gold prices under pressure for the last two days.

"Now traders will be eyeing the key personal consumption expenditure (PCE) price index data today. If the current data comes above estimates, then gold prices will see more selling," said Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities.

According to Kotak Securities, Comex gold futures witnessed some recovery and traded near USD 2,620 per ounce on Friday, but headed for a weekly decline as investors reassessed interest rate expectations following the recent decision by the US Federal Reserve.

Chintan Mehta, CEO of Abans Holdings, said, "Central banks are actively accumulating gold to hedge against global risks and rising geopolitical tensions. This includes increased uncertainty in the Middle East and uncertainty over economic policies under Donald Trump's presidency next month. Therefore, gold will remain an attractive investment over the long term."