Gold falls Rs 372; silver declines Rs 799

Gold price in the national capital fell Rs 372 to Rs 50,139 per 10 grams on Friday amid a decline in the yellow metal prices in the international market, according to Securities. In the previous trade, the precious metal had settled at Rs 50,511 per 10 grams.

Silver also declined Rs 799 to Rs 56,089 per kg from Rs 56,888 per kg. In the international market, gold was trading in red at USD 1,621.25 per ounce while silver was down at USD 18.41 per ounce.

“COMEX spot gold is headed for a second weekly decline, with prices nearing their lowest mark since April 2020 as the dollar stays strong and holdings in the ETF-extended decline,” said Dilip Parmar, Research Analyst at HDFC Securities.