Markets

Gold tumbles ₹ 1,130; silver declines ₹ 708

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."


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Printable version | Oct 29, 2021 12:46:30 AM | https://www.thehindu.com/business/markets/gold-tumbles-1130-silver-declines-708/article36515660.ece

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