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Gold tanks `460, silver slips `629

Gold prices tanked Rs 460 to Rs 48,371 per 10 gram in the national capital on Monday on a weak global trend, according to HDFC Securities.

Gold rises `514, silver gains `1,046
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Gold rises `514, silver gains `1,046

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New Delhi: Gold prices tanked Rs 460 to Rs 48,371 per 10 gram in the national capital on Monday on a weak global trend, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 48,831 per 10 gram. Silver prices also dipped Rs 629 to Rs 62,469 per kilogram from Rs 63,098 per kilogram in the previous trade. "Spot gold prices for 24 carat in Delhi fell by Rs 460, reflecting decline in global gold prices and rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee strengthened by 5 paise to 73.59 against the US dollar in the opening trade on Monday. In the international market, gold declined to USD 1,830 per ounce, while silver was quoting flat at USD 23.82 per ounce. "Gold prices witnessed selling pressure on vaccine roll outs," Patel added. (PTI)

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