Gold became cheaper by Rs 389, silver broken by Rs 1607
In the national capital, gold sold at Rs 389 cheaper to Rs 51,995 per ten grams. Silver is being sold at Rs 1,607 to Rs 56,247 per kg.
Gold prices declined on Friday in the country's bullion market. According to HDFC Securities, gold was sold at Rs 51,995 per ten grams in the national capital after a weakness in gold prices in global markets.
In the last business session, gold was trading at the rate of Rs 52,384 per ten grams.
At the same time, there has been a good decline in silver prices. Silver is being sold at Rs 1,607 to Rs 56,247 per kg. In the last business session, silver was being sold at the rate of Rs 57,854 per kg.
In the international market, gold is trading at the rate of US $ 1,753 per ounce with weakness. Silver is trading flat at a rate of US $ 19.23 an ounce in the global market.
Tapan Patel, Senior Analyst (Commodities) of HDFC Securities, believes that the strengthening of the dollar has increased the pressure on gold and silver prices.
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