Gold falls Rs 26, silver declines Rs 201

Gold falls Rs 26, silver declines Rs 201

New Delhi: Gold prices declined marginally by Rs 26 to Rs 51,372 per 10 gram in the national capital on Wednesday amid weak global prices and rupee appreciation, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 51,398 per 10 gram.

Silver prices also declined Rs 201 to Rs 62,241 per kilogram from Rs 62,442 per kilogram in the previous trade.

“Spot gold prices for 24 carat in Delhi were down by Rs 26 on weak global prices and minor rupee appreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee settled 10 paise higher at 73.76 (provisional) against the US dollar on Wednesday, supported by positive domestic equities.

In the international market, gold and silver were trading lower at USD 1,887 per ounce and USD 22.70 per ounce, respectively.

Gold traded under pressure as prices pared previous gains on stronger dollar amid rising hopes for US stimulus package, Patel added.

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