Gold prices declined by Rs 451 to Rs 46,844 per 10 gram in the national capital on Friday, reflecting an overnight decline in global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,295 per 10 grams. Silver prices also tanked Rs 559 to Rs 67,465 per kilogram from Rs 68,024 per kilogram in the previous trade. The rupee appreciated 4 paise to 74.67 against the US dollar in opening trade on Friday.
In the international market, gold was quoting marginally higher at USD 1,805 per ounce and silver was trading flat at USD 25.93 per ounce.
“Gold prices were firm with fall in US treasury yields,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, “Gold prices are set for the third straight weekly gain, amid fall in US yields and a slight pullback in the dollar.”