Markets

Gold prices fall ₹162, silver tumbles ₹657

Representational image.

Representational image.   | Photo Credit: Mohammed Yousuf

On Monday, the precious metal had closed at ₹41,456 per 10 gram.

Gold on Tuesday fell by ₹162 to ₹41,294 per 10 gram in the national capital amid rupee appreciation, according to HDFC Securities.

On Monday, the precious metal had closed at ₹41,456 per 10 gram.

Silver prices also dropped by ₹657 to ₹47,870 per kg from the previous close of ₹48,527 per kg.

“Spot gold for 24 Karat in Delhi fell by ₹162 pressured by rupee appreciation. The spot rupee was trading around 11 paisa stronger against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In early trade on Tuesday, the rupee appreciated by 6 paise to 71.37 against the US dollar.

In the international market also, both gold and silver were trading lower at USD 1,579 per ounce and USD 18 per ounce, respectively.

“Global investors are weighing the effect of China’s coronavirus outbreak,” he added.

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Printable version | Feb 27, 2020 8:59:13 PM | https://www.thehindu.com/business/markets/gold-prices-fall-162-silver-tumbles-657/article30674287.ece

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