On Thursday, the price of gold and silver has come down drastically. In the national capital, the price of gold has fallen drastically by Rs 488 per 10 grams. Due to this decline, the price of gold in Delhi has gone up to Rs 49,135 per 10 grams. According to HDFC Securities, this fall in gold prices has been recorded due to the strengthening of the rupee. It is worth noting that in the last session on Wednesday, gold had closed at Rs 49,623 per 10 grams.
Along with gold in the domestic spot bullion market, there has been a tremendous decline in the price of silver. The price of silver has fallen by Rs 1,168 per kg on Thursday. The price of silver has come down to Rs 50,326 per kg. Earlier in the previous session, silver had closed at Rs 51,494 per kg on Wednesday.
In its statement, HDFC Security Senior Analyst (Commodities) Tapan Patel said that the gold prices have declined due to the sharp rise in the rupee. On Thursday, the Indian rupee was trending at 75.04 against a dollar by 56 paise. On the international market, on Thursday evening, the global futures price of gold was trending at $ 1,781.60 an ounce, by 0.10 percent or $ 1.70, on Comex. Apart from this, the global spot price of gold was trending at $ 1,767.78 an ounce, down 0.13 percent or $ 2.31 at this time.
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