Gold tumbles ₹ 1,130; silver declines ₹ 708

Silver also plunged to ₹ 60,183 per kg.

September 17, 2021 05:01 pm | Updated 05:01 pm IST - New Delhi

Gold in the national capital on Friday tumbled ₹ 1,130 to ₹ 45,207 per 10 grams reflecting overnight decline in international precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had settled at ₹ 46,337 per 10 grams.

Silver also plunged ₹ 708 to ₹ 60,183 per kg, from ₹ 60,891 per kg in the previous trade.

In the international market, gold was trading in the green at $ 1,762 per ounce and silver was flat at $ 22.95 per ounce.

"Gold prices traded firm with spot gold prices at COMEX (New York-based commodity exchange) trading half a per cent up near $ 1,762 per ounce on Friday.

"Gold pared some loses on Friday after falling to five-week lows following strong U.S. retail sales data," said HDFC Securities Senior Analyst (Commodities) Tapan Patel.

Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said, "Gold prices saw a slight recovery, although it continues to hover around the one-month lows it made in the (previous) session, amid the rise in dollar, and positive U.S. economic data."

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.