Gold price declines Rs 62 on stronger rupee, silver rate falls Rs 828
"Spot gold for 24 karat in Delhi was trading lower by Rs 62 on stronger rupee. The spot rupee was trading around 20 paise stronger against the dollar during the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Gold prices on Wednesday declined by Rs 62 to Rs 43,502 per 10 gram in the national capital on stronger rupee, but worries over spreading coronavirus capped the downside, according to HDFC Securities.
The yellow metal had closed at Rs 43,564 per 10 gram in the previous trading session.
Silver prices tumbled by Rs 828 to Rs 48,146 per kg from Rs 48,974 per kg on Tuesday.
"Spot gold for 24 karat in Delhi was trading lower by Rs 62 on stronger rupee. The spot rupee was trading around 20 paise stronger against the dollar during the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The Indian rupee appreciated by 11 paise to 71.74 against the US dollar in early trade on Wednesday.
"Gold prices kept the down side limited on mixed global cues with worries over spreading coronavirus," Patel added.
In the international market, gold and silver were trading higher at USD 1,648 per ounce and USD 18.10 per ounce, respectively.
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