Gold & Silver Prices Fall Up to Rs 1,100 on Friday, Rupee Rises: Details

  • Commodities News
Gold & Silver Prices Fall Up to Rs 1,100 on Friday, Rupee Rises: Details
Credit: © Reuters.

By Malvika Gurung -- The price of gold has fallen by Rs 423 to Rs 47,777/10 grams in the national capital on Friday, while Silver stands at Rs 61,652/kg, shrinking Rs 1,105 from its price in the previous trade at Rs 62,757/kg.

The decline in gold's price is a result of the weakening prices of international precious metals and the domestic rupee USD/INR appreciation. 

The domestic currency ended a three-day losing streak and closed almost 5 paise higher than the US dollar at 75.04 on Friday, backed by an expectation of better dollar inflows from upcoming IPOs and position downsizing ahead of the Union Budget, noted the brokerage.

As a result, spot gold prices for 24 carat in Delhi declined by Rs 423. In the international market too, gold was trading lower at $1,794/ounce, while silver witnessed muted trading at $22.63/ounce.

In the international markets, gold was trading all set to decline its sharpest since November amid cautious investor sentiments post the Fed’s hawkish stance on tightening monetary policies, and agitated geopolitical tension looming between Russia and Ukraine.

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  • Abdul Samad @Abdul Samad
    silver buy only dip 70000 target
    Like 0

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