Gold marginally down Rs 56; silver also declines Rs 738
Gold prices were marginally down by Rs 56 to Rs 51,770 per 10 grams on Friday in the national capital amid rupee appreciation, according to HDFC Securities. In the previous trade, it had closed at Rs 51,826 per 10 gram. Silver also declined Rs 738 to Rs 68,371 per kg from Rs 69,109 per kg in the previous trade.
"Spot gold prices for 24 karat in New Delhi were marginally down by Rs 56 on rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Snapping the two-day losing streak, the rupee rebounded by 33 paise and settled at 73.14 (provisional) against the US dollar on Friday, even as the domestic equity market was trading with significant losses.
In the global market, gold was trading with gains at USD 1,935 per ounce and silver was flat at USD 26.71 an ounce.
"Concerns over economic growth capped dollar gains that supported gold prices on Friday," he added.
