Gold price update: Gold declines Rs 131, silver prices up Rs 89
Gold on Friday declined by Rs 131 to Rs 41,453 per 10 gram in the national capital amid rupee appreciation, according to HDFC Securities. The drop in the prices was against gold's previous close of Rs 41,584 per 10 gram. Silver prices however, went up by Rs 89 to Rs 47,554 per kg from Rs 47,465 per kg in the previous trade.
"Spot gold for 24 Karat in Delhi declined by Rs 131 with rupee appreciation. The spot rupee recovered by around 12 paise against the dollar ahead of the Budget presentation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The Indian rupee appreciated by 17 paise to 71.41 against the US dollar in early trade on Friday.
In the international market, gold and silver were trading with marginal gains at USD 1,577 per ounce and USD 17.86 per ounce, respectively.
Gold prices are fluctuating in the broad range of USD 1,560-1,580 as investors remained cautious about the spread of coronavirus across the world, he noted.
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