The spot prices of both gold and silver on Wednesday, registered a decline in the domestic bullion market. According to HDFC Securities, gold declined by 137 rupees per 10 grams in national capital Delhi on Wednesday. With this decline, the price of gold came down to Rs 53,030 per 10 grams. According to securities, the rupee strengthened in gold. Gold closed at Rs 53,167 per 10 grams in the last session on Tuesday.
Tapan Patel, senior analyst of HDFC Securities, said that the spot price of 24 carat gold in Delhi also registered a decline of 137 rupees on Wednesday during the rupee appreciation. The Indian currency strengthened 12 paise, to close at 73.52 (provisional) against the dollar, as the weak US currency and domestic stock markets remained positive on Wednesday.
While talking about silver, the spot price of silver in the domestic bullion market on Wednesday registered a significant decline of Rs 517 per kilogram. The price of silver has come down to Rs 70,553 per kilogram on Wednesday. It is noteworthy that the silver closed at Rs 71,070 per kilogram on Tuesday in the previous session. Gold at the same international level rose to $1967.70 an ounce on Wednesday. Silver appeared to be trending steady at $27.40 an ounce. Tapan Patel said that the price of gold at the global level was trending in the upper range before the Federal Open Watch Committee meeting. Gold prices have changed.