Gold price drops Rs 157 to Rs 44,250, silver prices decline Rs 99 to Rs 44,407

Gold on Thursday fell by Rs 157 to Rs 44,250 per 10 gram in the national capital amid muted demand for the precious metal.

In the previous trade, it had closed at Rs 44,407 per 10 gram, according to HDFC Securities.

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Likewise, silver prices also declined Rs 99 to Rs 47,517 per kg from Rs 47,616 per kg on Wednesday.

"Spot gold for 24 Karat in Delhi pared previous gains and traded lower by Rs 157. Rupee fluctuation kept prices in range throughout the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The Indian rupee continued its downward journey on Thursday, sliding another 5 paise to trade at 73.44 against the US dollar amid mounting fears of a coronavirus-led economic slowdown.

From the international market, gold was quoting with marginal gains at USD 1,640 per ounce, while silver traded flat, down at USD 17.17 per ounce.