Gold prices on Friday fell by Rs 222 to Rs 43,358 per 10 gram in the national capital in line with weak trend in global markets, according to HDFC Securities.
The precious metal had closed at Rs 43,580 per 10 gram in the previous trading session.
Silver prices also declined by Rs 60 to Rs 48,130 per kg from Rs 48,190 per kg.
"Spot gold for 24 Karat Gold at Delhi plunged by Rs 222 with sharp fall in international gold prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Owing to sharp depreciation in Indian rupee, the gold prices might not see further downfall, he said. The spot rupee was trading 50 paise weaker against the dollar during the day.
He attributed the decline in yellow metal prices to investors switching to safer investment tool such as bonds.
In the international market, both gold and silver were trading lower at USD 1,632 per ounce and USD 17.25 per ounce, respectively.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app