New Delhi: Gold prices on Wednesday ruled flat at Rs 34,870 per 10 gram in the national capital and silver also stood steady at Rs 38,900 per kg, according to the All India Sarafa Association.
Globally, spot gold was trading lower at USD 1,391.39 an ounce, while silver was down at USD 15.07 per ounce in New York.
"Gold prices (globally) traded under pressure after US and China restarted trade talks on Tuesday. The stronger dollar index and positive equity indices kept gold prices in lower range. Gold prices kept the narrow trading range ahead of Fed Chair's testimony and FOMC minutes scheduled in evening," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity held flat at Rs 34,870 per 10 gram and Rs 34,700 per 10 gram, respectively.
Sovereign gold also held steady at Rs 27,300 per eight gram.
On Tuesday, the yellow metal had plunged by Rs 600.
Silver ready stood steady at Rs 38,900 per kg and weekly-based delivery gained Rs 34 to Rs 38,034 per kg.
Prices of silver coins held flat at Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.