New Delhi: Due to the strengthening of the Indian currency rupee, both gold and silver prices have seen a fall in the bullion market on Friday. According to HDFC Securities, gold prices fell by Rs 80 on Friday in Delhi, the country's capital. Gold prices have now come down to Rs 40,554 per 10 grams due to this decline. Significantly, on Thursday, gold had closed at a price of Rs 40,634 per 10 grams.
Along with gold, silver prices have also fallen on Friday. Silver fell by Rs 200 on Friday. Due to this decline, the price of silver has reached Rs 47,695 per kg. It is noteworthy that silver closed at Rs 47,895 per kg on Thursday. The decline in the price of silver has come due to the decrease in purchases of industrial units and coin traders.
Devers Advocate of HDFC Securities said that gold has seen a decline due to lower risk, strengthening equities and lowering of gold prices globally. At the same time, the rise in the rupee has been the main reason for the decline in gold prices domestically.
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