Gold tumbles Rs 302; silver declines Rs 81

New Delhi: Gold in the national capital on Wednesday tumbled Rs 302 to Rs 46,848 per 10 gram reflecting an overnight decline in international precious metal prices along with rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,150 per 10 gram.

Silver also dipped Rs 81 to Rs 61,031 per kilogram from Rs 61,112 per kilogram in the previous trade.

The rupee gained 22 paise to close at 74.91 (provisional) against the US dollar on Wednesday.

“Spot gold prices for 24-carat gold at Delhi fell by Rs 302 reflecting an overnight decline in COMEX gold prices along with rupee appreciation,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

In the international market, gold was trading with marginal gains at USD 1,778 per ounce and silver was flat at USD 22.74 per ounce.

“Gold prices traded firm with spot gold prices at COMEX trading marginally up at USD 1,778 per ounce on Wednesday,” Patel added.