Bullion Market Closing: Gold Falls Marginally, Silver Rises Rs 52

Gold on Friday fell marginally by Rs 26 to Rs 38,895 per 10 gram in the national capital, according to HDFC Securities. Prices of gold had closed at Rs 38,921 per 10 gram on Thursday.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said spot gold for 24 karat in Delhi was trading marginally down by Rs 26 limiting downside due to the rupee depreciation.

The spot rupee was trading about 10 paise weaker against the dollar during the day, he added. Silver prices, however, rose Rs 52 to Rs 45,547 per kg from the previous close of Rs 45,495 per kg.

In the international market, gold and silver both were trading lower at USD 1,473 per ounce and USD 16.88 per ounce, respectively. “Gold prices traded under pressure with US President (Donald Trump) saying the US and China were ‘moving right along’ on trade talks,” Patel said.

Asian stocks were trading higher on Friday as investors hoped US-China trade talks would move in right direction after positive signals from the US president.