Gold tanks Rs 145; silver declines Rs 397

Gold in the national capital on Wednesday dipped by Rs 145 to Rs 47,093 per 10 gram in-line with weak global precious metal prices and rupee appreciation, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 47,238 per 10 gram.

Silver also declined by Rs 397 to Rs 60,498 per kg from Rs 60,895 per kg in the previous trade.

The rupee appreciated 11 paise to 75.48 against the US dollar in opening trade on Wednesday.

In the international market, gold was trading lower at USD 1,787 per ounce and silver was flat at USD 22.48 per ounce.

“Gold prices traded marginally down with spot gold prices at COMEX trading at USD 1,787 per ounce on Wednesday. Gold prices traded weak with recovery in global equity indices and rise in US bond yields,” HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.