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Gold declines marginally by Rs 44, silver tanks Rs 206

In the previous trade, the precious metal had closed at Rs 53,084 per 10 gram.

New Delhi: Gold prices witnessed volatile trading on Monday and dipped marginally by Rs 44 to Rs 53,040 per 10 gram in the national capital, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 53,084 per 10 gram.

“Spot gold prices for 24 carat in Delhi traded volatile with rupee fluctuation as prices pared early gains with sharp rupee appreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Making a sharp U-turn, the rupee soared 52 paise to settle at 74.32 (provisional) against the US dollar on Monday, in line with upbeat domestic equities and sustained foreign fund inflows.

Silver also declined by Rs 206 to Rs 68,202 per kg from Rs 68,408 per kg.

In the international market, gold was trading with gains at USD 1,950 per ounce, while silver was quoting flat at USD 26.80 per ounce.

“Gold prices traded positive with spot international gold prices recovering to USD 1,950 per ounce on Monday,” he added.

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