Gold slips Rs 53; silver declines Rs 256

Gold in the national capital on Wednesday slipped Rs 53 to Rs 52,340 per 10 grams amid a decline in international precious metal prices and rupee appreciation, according to Securities. In the previous trade, the yellow metal had closed at Rs 52,393 per 10 grams.

Silver also declined Rs 256 to Rs 57,957 per kg from Rs 58,213 per kg in the previous trade.

The rupee appreciated 44 paise to 79.30 against the US dollar in the opening trade on Wednesday, mainly on account of foreign fund inflows.

In the international market, gold was quoting lower at USD 1,772 per ounce while silver was flat at USD 19.96 per ounce.

“Gold prices have kept a steady trading range on mixed global cues and firm dollar,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.