Gold declines by Rs 316; silver tanks Rs 1,010

New Delhi: Gold in the national capital on Monday declined by Rs 316 to Rs 51,872 per 10 gram in line with fall in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal finished at Rs 52,188 per 10 gram.

Silver also tanked Rs 1,010 to Rs 65,443 per kg from Rs 66,453 per kg in the previous trade.

In the international market, gold was trading lower at USD 1,921 per ounce and silver declined marginally to USD 23.78 per ounce.

“Gold prices traded weak with spot gold prices at COMEX trading at USD 1,921 per ounce on Monday. Gold prices declined on expectations of higher-than-expected rate hike from US FED and rally in US bond yields,” said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.