Gold & Silver

Gold declines ₹62 on stronger rupee, silver tumbles ₹828

PTI New Delhi | Updated on February 26, 2020 Published on February 26, 2020

Gold prices on Wednesday declined by ₹62 to ₹43,502 per 10 gram in the national capital on stronger rupee, but worries over spreading coronavirus capped the downside, according to HDFC Securities.

The yellow metal had closed at ₹43,564 per 10 gram in the previous trading session.

Silver prices tumbled by ₹828 to ₹48,146 per kg from ₹48,974 per kg on Tuesday.

“Spot gold for 24 karat in Delhi was trading lower by ₹62 on stronger rupee. The spot rupee was trading around 20 paise stronger against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The Indian rupee appreciated by 11 paise to 71.74 against the US dollar in early trade on Wednesday.

“Gold prices kept the down side limited on mixed global cues with worries over spreading coronavirus,” Patel added.

In the international market, gold and silver were trading higher at USD 1,648 per ounce and USD 18.10 per ounce, respectively.

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Published on February 26, 2020
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