On Wednesday, both gold and silver prices recorded a decline in the bullion market. Gold fell by Rs 182 on Wednesday. Due to this decline, the price of gold has now come to Rs 41,019 per 10 grams in the national capital. According to HDFC Securities, this fall in the price of gold has been recorded due to the strengthening of the rupee. It is being told that gold had closed at Rs 41,201 per 10 grams on Tuesday. Along with gold, a sharp decline has been recorded in silver on Wednesday. Silver has fallen by Rs 1,083 on Wednesday.
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Since this fall, the price of silver has come down to Rs 46,610 per kg. Significantly, silver closed at Rs 47,693 per kg on Tuesday. This decline in silver has been observed due to reduced buying by industrial units and coin traders. HDFC Securities senior analyst (commodity) Tapan Patel said that the price of 24-carat gold in Delhi has also fallen by Rs 182 on Wednesday. The decline in gold has been recorded due to the fall in gold prices globally and the strengthening of the rupee.
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He told that the Indian rupee was trading 12 paise stronger against a dollar on Thursday. The Indian rupee was trading 10 paise stronger at 71.21 against a dollar in early trade on Wednesday. When it comes to the global market, gold was trending marginally higher at $ 1,568 an ounce and silver at 17.47 dollars an ounce.
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