Gold declines by Rs 353; silver drops Rs 123

News

New Delhi, Jun 1 (PTI) Gold in the national capital on Wednesday declined by Rs 353 to Rs 50,509 per 10 grams amid muted global trends along with rupee appreciation, according to Securities. In the previous trade, the precious metal finished at Rs 50,862 per 10 grams.

Silver dipped Rs 123 to Rs 60,834 per kg from Rs 60,957 per kg in the previous trade.

On Wednesday, the rupee recovered from its record low to close 20 paise higher at 77.51 (provisional) against the American currency.

In the international market, both gold and silver traded flat at USD 1,836.44 per ounce and USD 21.62 per ounce, respectively.

“Gold prices traded steady with spot prices at COMEX trading almost flat near USD 1,836 per ounce on Wednesday. Gold prices capped upside on stronger dollar and firm US bond yields,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

Articles You May Like

Yen Staying Soft on Rising US Yields, Aussie Vulnerable to Further Declines Ahead of RBA Minutes
GBP/NZD Price Forecast: Correction reaches support at 50-day SMA
Buy the dip! HAL, PNB, IDFC First Bank among 10 stock ideas from Jefferies
Pound Sterling Price News and Forecast: GBP/USD stumbles on soft UK data, bears target 1.2600
​Federal Bank, Coforge among 6 small & midcap stocks that hit 52-week highs on Tuesday

Leave a Reply

Your email address will not be published. Required fields are marked *