Gold rate update: Gold drops Rs 182, silver tumbles Rs 1,083
Gold prices fell Rs 182 to Rs 41,019 per 10 gram in the national capital on Wednesday amid rupee appreciation, according to HDFC Securities. The precious metal had closed at Rs 41,201 per 10 gram on Tuesday. Silver prices also tumbled Rs 1,083 to Rs 46,610 per kg on Wednesday from Rs 47,693 per kg in the previous trade. "Spot gold for 24 karat in Delhi fell by Rs 182 on overnight decline in global gold prices and rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The spot rupee was trading around 12 paise stronger against the dollar during the day, he added.
In early trade on Wednesday, the Indian rupee appreciated by 10 paise to 71.21 against the US dollar, tracking gains in domestic equity market.
In the international market, gold was trading with marginal gains at USD 1,568 per ounce, while silver was quoting at USD 17.47 per ounce.
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