Markets

Gold declines ₹ 231; silver tanks ₹ 256

Women buying gold ornaments at a jewellery showroom in Hyderabad. File   | Photo Credit: Nagara Gopal

Gold in the national capital declined ₹ 231 to ₹ 48,421 per 10 gram on Wednesday, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹ 48,652 per 10 gram. Silver also dipped ₹ 256 to ₹ 65,614 per kilogram from ₹ 65,870 per kilogram in the previous trade.

The rupee appreciated 8 paise to 72.86 against the US dollar in opening trade on Wednesday.

In the international market, both gold and silver were trading flat at $ 1,850.5 per ounce and $ 25.41 per ounce.

According to Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services, "Gold prices held steady ahead of the US Federal Reserve's monetary policy decision due later in the day and as investors awaited a stimulus package in the world's largest economy."

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Printable version | Feb 28, 2021 9:53:21 AM | https://www.thehindu.com/business/markets/gold-declines-231-silver-tanks-256/article33676202.ece

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