Gold down ₹ 130 amid weak global trend

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Gold on Tuesday fell by Rs 130 to Rs 38,550 per 10 gram in the national capital on a weak global trend, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 38,680 per 10 gram.

Silver also witnessed correction and declined Rs 90 to Rs 45,080 per kg from Rs 45,170 per kg.

"Spot gold prices for 24 Karat in Delhi were trading down by Rs 130, reflecting overnight fall in global gold prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold was trading lower at USD 1,453 an ounce, while silver was quoting at USD 16.81 per ounce.

Gold prices continued the decline as US and China are moving closer to ink the interim trade deal in November, he added.

Also Read: Gold rises ₹ 118 on global cues, rupee depreciation

Also Read: Gold down Rs 196 amid weak global trend, Silver tumbles too