Gold declines marginally; silver drops Rs 27

Gold price in the national capital on Monday declined marginally by Rs 5 to Rs 47,507 per 10 grams in line with weak international precious metal prices and rupee appreciation, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 47,512 per 10 grams.

Silver also dipped by Rs 27 to Rs 60,914 per kg from Rs 60,941 per kg in the previous trade.

The Indian rupee appreciated 45 paise to close at 74.62 against the US dollar on Monday.

In the international market, gold was trading lower at USD 1,788 per ounce and silver was flat at USD 22.42 per ounce.

“Gold prices traded weak with spot gold prices at COMEX trading marginally down at USD 1,788 per ounce on Monday. Gold prices traded under pressure extending decline on hawkish Fed,” Tapan Patel, Senior Analyst (Commodities), HDFC securities, said.