Gold silver down on Mumbai spot

Gold down by 1.5%, silver down by 3%

Gold and silver on the Mumbai spot market saw a sharp correction due to rupee appreciation as well as tracking cues from the international market.

Gold on the Mumbai spot market closed at Rs 30,300 per 10 grams down by 1.5%, while silver closed at Rs 46,300 per kg down by 3% from yesterday's close.

Rupee in the last one week saw a sharp appreciation due to a fall in the current account deficit which caused it to move to a three month high and ended the week at Rs 61.09 per dollar.