Gold falls Rs. 93; silver gains Rs. 99

New Delhi: Gold in the national capital on Thursday dipped by Rs 93 to Rs 46,283 per 10 grams amid rupee appreciation. In the previous trade, the precious metal had closed at Rs 46,376 per 10 grams.Silver, however, gained Rs 99 to Rs 66,789 per kg, from Rs 66,690 per kg in the previous trade. In the international market, gold was trading marginally higher at $1,780 per ounce and silver was flat at $25.96 per ounce.

HDFC securities senior analyst (commodities) Tapan Patel said: "Spot gold prices for 24 karat in Delhi were down by Rs 93 reflecting overnight weakness in Comex (New York-based commodity exchange) gold prices and rupee appreciation."

Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, "gold prices continue to trade in a range amid volatility in US yields and dollar."

Gold prices fell Rs 86 to Rs 46,986 per 10 grams in the futures trade on MCX as speculators reduced their positions amid low demand. On the Multi Commodity Exchange (MCX), gold contracts for the August delivery traded lower by Rs 86, or 0.18 per cent, to Rs 46,986 per 10 gram in a business turnover of 10,864 lots. Analysts attributed the fall in gold prices to trimming of positions by participants. Globally, gold traded 0.27 per cent lower at USD 1,778.50 an ounce in New York.