Markets

Gold slides by ₹51, silver tumbles ₹472

Representational image.

Representational image.   | Photo Credit: Reuters

Gold prices fell by ₹51 to ₹40,688 per 10 gram in the national capital on Wednesday on a stronger rupee and weakness in international market.

The precious metal had closed at ₹40,739 per 10 gram in the previous session.

Silver also declined by ₹472 to ₹47,285 per kg from ₹47,757 per kg on Tuesday.

“Spot gold for 24 karat in Delhi fell by ₹51 with strength in rupee against the dollar,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee appreciated by 3 paise to 71.18 against the US dollar in early trade on Wednesday as easing crude oil prices and gains in domestic equity market lift investor sentiments.

“...spot international gold prices pared previous gains at COMEX declining below USD 1,560 to USD 1,555 per ounce for the day,” Mr. Patel added.

While gold traded lower in the international market, silver was quoting almost flat at USD 17.80 per ounce.

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Printable version | Feb 17, 2020 2:59:30 AM | https://www.thehindu.com/business/markets/gold-slides-by-51-silver-tumbles-472/article30624222.ece

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