Gold rates fall in Mumbai and Delhi; Nifty and Sensex also open weak

Representational image. File pic

Gold and silver prices traded lower on Friday after easing geopolitical tensions, and the US Federal Reserve kept interest rates unchanged while signalling support for additional rate hikes.

On the Multi Commodity Exchange (MCX), gold futures (August) declined as much as 1.39 per cent to hit an intraday low of Rs 1,45,710 as of around 10:30 am.

It touched an intraday high of Rs 1,47,232 from its previous close at around 12:38 pm.

Meanwhile, silver futures (July) were trading at Rs 2,34,360, down Rs 3,172 from the previous close on Thursday.

Gold prices in Mumbai and Delhi

Gold prices in Mumbai witnessed a marginal decline on Friday, with the price of 24-karat gold declining by Rs 2,589 for 10 grams compared to the previous day.

According to the latest market rates, 24-karat gold in Mumbai was priced at Rs 1,46,693 per 10 grams on Monday, down from Rs 1,49,282. The decline reflects trends in the precious metals market amid global economic developments.

Meanwhile, 22-karat gold prices in Mumbai also declined marginally, going downwards to Rs 1,34,551 per 10 grams.

The prices in Delhi also showed marginal changes. Yellow metal was recorded at Rs 1,46,743 for 10 grams of 24-karat gold. The price of 22-karat gold in Delhi stood at Rs 1,34,416 for 10 grams.

Sensex, Nifty open lower as IT stocks tumble after Accenture guidance cut

Domestic equity markets on Friday opened lower after a recent rally, with IT stocks bearing the brunt of the selling pressure after global software services provider Accenture's guidance cut triggered concerns over the sector's growth outlook.

According to IANS, Sensex opened at 76,852.86, down 0.71 per cent or over 500 points, while Nifty began the session at 23,991.20, declining 0.73 per cent or more than 150 points.

Sectoral indices

Sector-wise, Nifty IT plunged nearly 6 per cent, while Nifty MidSmall IT and Telecom declined over 2 per cent. Meanwhile, realty, consumer durables, financial services, metals, auto and FMCG indices were also trading in the red.

On the other hand, defensive sectors attracted buying interest. Nifty Pharma gained 0.47 per cent, while the healthcare and MidSmall Healthcare indices rose 0.40 per cent and 0.38 per cent, respectively.

(With inputs from IANS)