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Saturday, October 1, 2022

Gold falls ₹303; silver drops ₹197

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Gold prices fell by Rs 303 to Rs 49,571 per 10 grams in the national capital on Monday amid weak global signals and rupee appreciation, according to HDFC Effects.



In previous trading, the yellow metal was closed at Rs 49,874 per 10 grams.

Silver also fell by Rs 197 to Rs 57,090 per kilogram from Rs 57,287 per kg in the previous transaction.

The rupee appreciated 14 paise to 79.64 against the US dollar on Monday in early trading, in line with its Asian counterparts and as the US currency pulled back from its elevated levels.

In the international market, gold was trading lower at $1,662 an ounce, while silver remained flat at $19.28 an ounce.

Gold price extended losses as solid dollar and speculation ahead US FOMC meet has pinned investment sentiment on expectations of a larger rate hike,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

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