Gold fell by ₹131 to ₹39,818 per 10 gram in the national capital on the first trading day of 2020 amid rupee appreciation, according to HDFC Securities.
On Tuesday, the precious metal had closed at ₹39,949 per 10 gram.
Silver prices also witnessed correction, falling ₹590 to ₹47,655 per kg, from ₹48,245 per kg in the previous trade.
“Spot gold for 24 Karat in Delhi declined by ₹131 on rupee appreciation. The spot rupee was trading around 6 paise stronger against the dollar,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The rupee started the New Year on a positive note and rose 7 paise to 71.29 against the US dollar in early trade on Wednesday.
Gold prices witnessed profit-booking in the absence of trading in global markets on account of New Year Holiday, he added.
