Gold dips ₹ 243, silver declines by ₹ 216

Gold prices fell to ₹ 49,653.

Gold prices fell ₹ 243 to ₹ 49,653 per 10 gram in the national capital on Tuesday, reflecting the weakness in global price of the precious metal, according to HDFC Securities.

In the previous trade, the yellow metal had closed at ₹ 49,896 per 10 gram.

Silver prices also declined ₹ 216 to ₹ 67,177 per kilogram from ₹ 67,393 per kilogram in the previous trade.

In the international market, gold and silver were trading lower at $ 1,868 per ounce and $ 25.70 per ounce, respectively.

“Gold prices declined on stronger dollar index,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Navneet Damani, VP – Commodities Research at Motilal Oswal Financial Services, said, “Gold saw some selling pressure after trading higher in the early morning session, as support from the U.S. Congress passing a long awaited near $ 900 billion coronavirus aid was countered by a stronger dollar, while some profit booking also weighed on sentiment.”

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