Gold falls Rs 130; silver declines Rs 232

Gold price fell Rs 130 to Rs 56,680 per 10 grams in the national capital on Tuesday amid weak global trends, according to Securities. The precious metal had closed at Rs 56,810 per 10 grams in the previous trade.

Silver also declined Rs 232 to Rs 69,793 per kilogram.

“Spot gold prices in the Delhi markets traded at Rs 56,680 per 10 grams, down Rs 130 per 10 grams,” said an analyst at HDFC Securities.

In the overseas market, both gold and silver were trading in red at USD 1,911 per ounce and USD 24.03 per ounce, respectively.

Comex gold prices traded lower in Asian hours on Tuesday on the back of short-term future traders took profit after recent rally, the analyst said.

“Focus this week will remain on the Bank of Japan’s policy meeting on Wednesday, after the central bank unexpectedly struck a hawkish tone during its december meeting,” Navneet Damani, Senior VP – Commodity Research at , said.