Gold price declines by Rs 49; silver tumbles Rs 331

NEW DELHI: Gold prices declined by Rs 49 to Rs 43,925 per 10 gram in the national capital on Wednesday reflecting overnight selling in global precious metal prices, according to HDFC Securities.

The precious metal had closed at Rs 43,974 per 10 gram in the previous trade.

Silver also registered a fall of Rs 331 to Rs 62,441 per kg from Rs 62,772 per kg in the previous trade.

“Spot gold prices for 24 carat in Delhi were down by Rs 49 reflecting overnight selling in COMEX (New York-based commodities exchange) prices while weaker rupee capped the downside,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

The Indian rupee slumped 20 paise to 73.58 against the US dollar in opening trade on Wednesday.

In the international market, gold was trading lower at $1,684 per ounce and silver was flat at $24.09 per ounce.

“Gold prices declined with stronger dollar over US economic recovery optimism,” he added.