Gold declines Rs 423; silver tanks Rs 1,105

Gold price in the national capital declined by Rs 423 to Rs 47,777 per 10 grams on Friday amid weak international precious metal prices and rupee appreciation, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 48,200 per 10 grams.

Silver also dipped by Rs 1,105 to Rs 61,652 per kg from Rs 62,757 per kg in the previous trade.

"Spot gold prices for 24 carat at Delhi extended decline by Rs 423 reflecting overnight selling in COMEX gold prices along with rupee appreciation," Tapan Patel, Senior Analyst (Commodities), HDFC securities, said.

The Indian rupee eked out a marginal 4 paise gain at 75.05 against the US dollar in the morning trade on Friday.

In the international market, gold was trading lower at USD 1,794 per ounce and silver was flat at USD 22.63 per ounce.

"Gold prices traded down with spot gold prices at COMEX trading 0.15 per cent lower at USD 1,794 per ounce on Friday," he added.