New Delhi, March 16: Gold prices slipped by Rs 216 to Rs 51,279 per 10 grams in the national capital on Wednesday on the back of a decline in the precious metal’s prices overseas and rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal settled at Rs 51,495 per 10 grams.
In contrast, silver jumped Rs 200 to Rs 67,827 per kg from Rs 67,627 per kg in the previous trade.
In the international market, gold traded 0.18 per cent lower at USD 1,914 per ounce and silver was flat at USD 24.80 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices for 24 carat gold at Delhi fell by Rs 216 with decline in global gold prices along with rupee appreciation.”
The rupee spurted by 41 paise to close at a nearly two-week high of Rs 76.21 against the US dollar on Wednesday, tracking positive domestic equities and Asian currencies ahead of the US Federal Reserve’s decision on interest rate hike.
“Gold prices continue to tumble on US FED speculation over rate hike with inflation at 40 year high,” he said. (Agencies)
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