Gold falls Rs 261; silver declines Rs 692

Gold price fell by Rs 261 to Rs 51,098 per 10 grams in the national capital on Friday amid a decline in the prices of yellow metal in the international market, according to Securities. In the previous trade, the precious metal had closed at Rs 51,359 per 10 grams.

Silver also declined by Rs 692 to Rs 57,477 per kilogram from Rs 58,169 per kg.

“The precious metal could continue to be pressured by the rising yields and expensive dollar,” said Dilip Parmar, Research Analyst at HDFC Securities

In the international market, gold was trading lower at USD 1,665.2 per ounce while silver was down at USD 18.95 per ounce.

“COMEX gold is headed for a weekly loss after a hot inflation reading signalled more aggressive interest rate hikes by the US Federal Reserve, Parmar added.