Gold falls Rs 74, silver falls Rs 771
New Delhi, December 5 () Gold prices fell Thursday at Rs 74 to Rs 38,985 per 10 grams in the national capital in appreciation of the rupee.
The precious metal had closed at Rs 39,059 per 10 grams in the previous trade, according to HDFC Securities.
Silver also fell at Rs 771 to Rs 45,539 per kg from Rs 46,310 per kg on Wednesday.
24 karat gold in Delhi declined by Rs 74 due to the appreciation of the rupee along with the strong Asian currencies. The cash rupee was trading 7 times stronger against the dollar during the day, said Tapan Patel, senior commodity analyst at HDFC Securities.
Gold prices skyrocketed in the last two days due to news about the trade agreement between the United States and China, Patel added.
In the international market, gold and silver prices were traded unchanged. While the yellow metal was trading at USD 1,475.4 per ounce, silver was trading at USD 16.88 per ounce.
The vice president of Commodity Research at Motilal Oswal Financial Services, Navneet Damani, said: The imposition of tariffs on Brazil and Argentina by the United States and several comments by the president of the United States (Donald Trump) maintained the positive momentum for the metal beautiful. Although few sources reported that the United States and China are said to come to an agreement despite the heated rhetoric that crowned the ingot recovery, he added. SUM RVK