Gold declines Rs 231, silver drops Rs 287

New Delhi: Gold prices fell by Rs 231 to Rs 50,646 per 10 grams in the national capital on Wednesday due to overnight losses in the precious metal in global markets, according to HDFC Securities.
In the previous trade, the precious metal settled at Rs 50,877 per 10 gram.
Silver also tanked Rs 287 to Rs 60,929 per kg from Rs 61,216 per kg in the previous trade.
The rupee appreciated further by 9 paise to settle at 77.25 against the US dollar on Wednesday.
Gold prices eased in early Asian trade as the US dollar traded near its 20-year high levels despite a small correction ahead of the release of US inflation data.
However, gold was trading higher at USD 1,850 per ounce and silver was flat at USD 21.69 per ounce at COMEX.
“Gold prices recovered from lows supported by weakness in dollar index and fall in US bond yields,” Tapan Patel, Senior Analyst (Commodities), HDFC Securities, said.

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