Gold falls Rs 73, silver slides by Rs 89

TIL Desk/Business/New Delhi/ / Gold prices fell Rs 73 to Rs 38,486 per 10 gram in the national capital on Wednesday on account of a stronger rupee, according to HDFC Securities. The yellow metal had closed at Rs 38,559 per 10 gram on Tuesday. “Spot gold for 24 karat was trading down by Rs 73 in Delhi on a stronger rupee against dollar,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the early trade on Wednesday, the rupee appreciated 12 paise to 70.80 against the US dollar. Silver prices also fell by Rs 89 to Rs 44,640 per kg from its close of Rs 44,729 per kg on Tuesday. In the international market, gold was trading at USD 1,464.8 per ounce, while silver was quoting at USD 16.62 per ounce.

“Gold prices traded in narrow range with international spot gold prices holding the range near USD 1,464…ahead of the US Federal Open Market Committee rate decision, while global markets are awaiting fresh triggers from the US-China trade talks, eyeing December 15 deadline of new tariffs from the US,” Patel said.