Gold declines Rs 488; silver plunges Rs 1,168

New Delhi, July 2

Gold prices in the national capital declined by Rs 488 to Rs 49,135 per 10 gram on Thursday amid rupee appreciation, according to HDFC Securities.

In the previous trade, it had closed at Rs 49,623 per 10 gram.

Silver also went lower by Rs 1,168 to Rs 50,326 per kg from Rs 51,494 per kg in the previous trade, it said.

“Gold prices traded weak on sharp rupee appreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee appreciated 56 paise to settle at 75.04 (provisional) against the dollar on Thursday.

In the international market, gold was quoting flat at USD 1,769.4 per ounce and silver at USD 17.90 per ounce. PTI