Gold declines Rs 137 amid tepid demand
Gold prices declined by Rs 137 to Rs 51,108 per 10 gram in the national capital on Tuesday amid rupee appreciation and subdued demand, according to HDFC Securities. The precious metal had closed at Rs 51,245 per 10 gram in the previous trade. Silver, however, rose by Rs 475 to Rs 62,648 per kilogram from Rs 62,173 per kilogram in the previous trade.
"Gold prices in India traded under pressure as spot gold prices for 24 karat in Delhi were weak by Rs 137 on rupee appreciation and subdued physical demand," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The rupee pared early losses and settled 13 paise higher at 73.71 against the US dollar on Tuesday, tracking positive domestic equities.
In the international market, gold rose marginally to USD 1,903.6 per ounce and silver was flat at USD 24.48 per ounce.
(With Inputs from PTI)
