Gold falls Rs 136; silver declines Rs 346
Gold prices fell Rs 136 to Rs 48,813 per 10 gram in the national capital on Friday amid a rupee appreciation and choppy global precious metal prices, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 48,949 per 10 gram.
The rupee appreciated by 16 paise to 73.77 against the US dollar in the opening session on Friday.
Silver also declined Rs 346 to Rs 63,343 per kg, from Rs 63,689 per kg in the previous day.
In the international market, gold was trading with marginal gains at USD 1,842 per ounce and silver was flat at USD 24.20 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices continued upside as dollar decline boosted buying in precious metals. The renewed stimulus hopes have pushed dollar down supporting buying in bullion prices.”