Bullion Market Closing: Gold Slides By Rs 53, Silver Prices Fall Rs 20

Gold prices on Thursday declined by Rs 53 to Rs 39,007 per 10 gram in the national capital on marginal appreciation in rupee, as per HDFC Securities. In the previous trade, the precious metal had closed at Rs 39,060 per 10 gram.

Silver prices also witnessed a marginal correction of Rs 20 to Rs 45,830 per kg as compared to Rs 45,850 per kg on Wednesday. “Spot gold prices for 24 Karat in Delhi were trading down by Rs 53 on marginal rupee appreciation.

The wedding demand is set to cheer spot gold markets in India,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold was trading marginally higher at USD 1,472.70 an ounce, while silver quoted slightly lower at USD 17.10 per ounce.

Globally, gold prices traded firm on Thursday amid the US-China political spat and trade deal uncertainties, he added.