Gold prices decline Rs 212; silver down by Rs 480

New Delhi: Gold prices on Monday declined by Rs 212 to Rs 49,827 per 10 gram in the national capital, in line with selling in the overseas markets, along with a rupee appreciation, according to HDFC Securities. The yellow metal had closed at Rs 50,039 per 10 gram in the previous trade.

Silver tumbled by Rs 480 to Rs 63,329 per kg, compared with the previous close of Rs 63,809.

The rupee in the early trade on Monday spurted by 22 paise to 74.44 a dollar.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices for 24 carat gold in Delhi fell Rs 212 in line with selling at COMEX gold prices along with rupee appreciation.”

In the international market, gold was trading lower at USD 1,893 an ounce while silver was also marginally down at USD 23.78 an ounce.

“Gold prices traded weak with spot gold prices at COMEX trading marginally down near USD 1,893 per ounce on Monday,” Patel said.