New Delhi, 9 October (H.S.):

Gold prices remained flat in major Indian cities on Wednesday, as some festive retail demand for the precious metal offset the impact of weak

global trends. In Delhi markets, 24K gold prices remained flat at ₹77,590 per

10 grams, while in other metros it remained at ₹77,440.

Investors were also cautious ahead of the Reserve Bank panel's announcement

of the monetary policy action and its commentary on inflation. RBI Governor

Shaktikanta Das will announce the monetary policy after a three-day meeting of

the rate-setting panel. The RBI action could impact the Indian currency, which

can, in turn, influence gold prices.

Silver has extended its losing streak to a third day this week in line with

global prices and Chinese authorities remaining silent on any future stimulus

measures to bolster the economy. Better economic prospects would drive demand

and prices of industrial metals like silver. Gold arrested its fall on

Wednesday and traded flat ahead of the RBI policy announcement. Silver traded

at ₹95,900 per kg in early trade in Delhi, whereas in Mumbai and Kolkata, its ₹95,900,

and in Chennai, it has crossed 1 lakh rupee mark.

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Hindusthan Samachar / Nimish kumar