Gold declines Rs 102, silver also tumbles Rs 269
Gold prices dipped by Rs 102 to Rs 48,025 per 10 gram in the national capital on Tuesday amid rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 48,127 per 10 gram. Silver also declined Rs 269 to Rs 70,810 per kilogram from Rs 71,079 per kilogram in the previous trade.
"Spot gold prices for 24 carat in Delhi were down by Rs 102 pressured by rupee appreciation," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
The Indian rupee strengthened by 13 paise to 72.83 against the US dollar in early trade on Tuesday.
In the international market, gold was trading higher at USD 1,882.50 per ounce, while silver was flat at USD 27.67 per ounce.
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