|Chennai||Rs. 24970.00 (-0.44%)|
|Mumbai||Rs. 25970.00 (0%)|
|Delhi||Rs. 25350.00 (-0.59%)|
|Kolkata||Rs. 25440.00 (-0.04%)|
|Kerala||Rs. 24900.00 (-0.8%)|
|Bangalore||Rs. 25200.00 (0%)|
|Hyderabad||Rs. 25080.00 (0.12%)|
Morgan Stanley lowered its gold and silver price forecasts citing the possibility of reduced U.S. Federal Reserve monetary stimulus or outright withdrawal from the current quantitative easing program.
"With investor demand for safe-haven assets waning against the backdrop of a strengthening U.S. dollar and rising U.S. bond yields, market conditions for gold and silver have become markedly less favourable," the bank said in a note.
The bank cut its 2013 gold price forecast by 5 percent to $1,409 an ounce and its 2014 estimate by 16 percent to $1,313.