Gold remains flat; silver declines Rs 400

New Delhi: Gold price remained flat at Rs 62,000 per 10 grams in the national capital on Friday amid mixed global cues, according to HDFC Securities.

However, silver declined Rs 400 to Rs 74,600 per kilogram.

Saumil Gandhi, senior analyst of commodities at HDFC Securities, said gold prices steadied as strong US GDP data is likely to allow the Federal Reserve to stick to its hawkish stance.

"Safe haven demand is protecting the downside in gold as the focus remains on the conflict in the Middle East...," he said.

In the global markets, both gold and silver were down at USD 1,987 per ounce and USD 22.85 per ounce, respectively.

Gandhi also said that personal consumption expenditure (PCE) data in the US would provide an indication of the Federal Reserve's policy outlook.