Gold prices on December 23 declined ₹252 to ₹49,506 per 10 gram in the national capital, according to HDFC Securities.
In the previous trade, the precious metal had closed at ₹49,758 per 10 gram.
Silver also dipped ₹933 to ₹66,493 per kg, from ₹67,426 per kg in the previous trade.
In the international market, gold was quoting with gains at $1,868 per ounce and silver was flat at $25.53 per ounce.
Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said, “Gold prices edged higher as grim U.S. consumer and housing data bolstered hopes for further stimulus to support an economic recovery.”
He, however, added that a new coronavirus strain in the U.K. has caused several countries around the world to shut their borders to Britain, and drug makers are scrambling to test their COVID-19 vaccines against it. “This has given further support to the metal prices.”
