Gold price falls Rs 360 on intl trends, rupee appreciation

Gold price declined Rs 360 to Rs 50,127 per 10 grams in the national capital on Friday, reflecting an overnight slump in international precious metal prices and rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal ended at Rs 50,487 per 10 grams.
Silver fell Rs 252 to Rs 58,916 per kg from Rs 59,168 per kg in the previous trade.
“Spot gold prices for 24 carat gold at Delhi were down by Rs 360 reflecting overnight slump in COMEX gold prices and rupee appreciation,” Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, said.
The rupee pared its initial gains and settled 1 paisa higher at 77.49 (provisional) against US dollar on Friday. In the international market, gold was trading with gains at USD 1,826 per ounce and silver was flat at USD 20.87 per ounce.
“Gold prices traded up with spot gold prices at COMEX trading 0.24 per cent up at USD 1,826 per ounce on Friday,” Patel said.