Gold slides by Rs 80, silver falls Rs 200

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Gold prices fell by Rs 80 to Rs 40,554 per 10 gram in the national capital on Friday amid muted international trend and a stronger rupee, according to HDFC Securities. On Thursday, the yellow metal had closed at Rs 40,634 per 10 gram. Silver also declined by Rs 200 to Rs 47,695 per kg from Rs 47,895 per kg in the previous trade.

HDFC Securities Head - Advisory (PCG) Devarsh Vakil said, "Gold prices traded with minor loss as appetite for risk is back with higher equities and lower international gold prices. Strength in rupee also weighed on domestic gold prices."

The domestic currency gained 14 paise to 71.07 per dollar during the day, Vakil added.

During the opening trade on Friday, the Indian rupee rose 7 paise to 71.14 against the US dollar buoyed by sliding oil prices and a firm trend at global markets.

In the international market, both gold and silver depicted a sluggish trend and were trading flat at USD 1,551 per ounce and USD 17.93 per ounce, respectively.

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