Markets

Gold declines ₹ 216; silver tanks ₹ 179

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. File

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. File

Gold price in the national capital on Wednesday declined by ₹ 216 to ₹ 47,010 per 10 gram in tandem with decline in international precious metal prices, according to HDFC Securities.

In the previous trade, the yellow metal settled at ₹ 47,226 per 10 gram.

Silver also tanked ₹ 179 to ₹ 61,348 per kg from ₹ 61,527 per kg in the previous trade.

In the international market, gold was trading lower at $ 1,804 per ounce and silver was flat at $ 23.07 per ounce.

"Gold prices traded weak with spot gold prices at COMEX trading at $ 1,804 per ounce on Wednesday. A stronger dollar also kept pressure on the precious metal for the day," HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.


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Printable version | May 18, 2022 12:41:12 pm | https://www.thehindu.com/business/markets/gold-declines-216-silver-tanks-179/article38062517.ece