Markets

Gold declines ₹ 152; silver tumbles ₹ 286

Gold in the national capital on Wednesday declined ₹ 152 to ₹ 46,328 per 10 gram amid muted global trends and rupee appreciation, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹ 46,480 per 10 gram.

Silver also dipped ₹ 286 to ₹ 62,131 per kilogram from ₹ 62,417 per kilogram in the previous trade.

The rupee appreciated 6 paise to 74.29 against the U.S. dollar in early trade on Wednesday.

In the international market, gold was trading marginally higher at $ 1,787 per ounce and silver was flat at $ 23.74 per ounce.

"Gold prices fluctuated in an upper trading range on mixed global cues," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, "Gold traded steady hovering over the one week high, as the precious metal was caught between mixed U.S. economic data, a firmer dollar and safe-haven demand driven by the Delta coronavirus variant fears."


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Printable version | Oct 18, 2021 1:42:49 AM | https://www.thehindu.com/business/markets/gold-declines-152-silver-tumbles-286/article35975086.ece

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