Gold falls Rs 146; silver declines Rs 794

Gold price in the national capital fell Rs 146 to Rs 50,612 per 10 grams on Monday amid a drop in precious metal prices in the overseas market along with appreciation in rupee, according to Securities. In the previous trade, the yellow metal had touched Rs 50,758 per 10 grams.

Silver also declined by Rs 794 to Rs 57,305 per kilogram.

In the international market, gold was trading lower at USD 1,641.8 per ounce while silver was down at USD 19.08 per ounce.

The rupee appreciated 15 paise to 82.32 against the US dollar in early trade on Monday tracking easing crude oil prices and a positive trend in domestic equities.
“Gold has been in a downtrend, heading for its longest monthly losing streak in decade and expected to remain under pressure. Spot gold’s outlook remains weak with surging US bond yields and the dollar index,” said Dilip Parmar, Research Analyst at HDFC Securities.