Gold price falls by Rs 451
New Delhi: Gold tumbled to Rs 451 and Rs 46,844 per 10 grams on Friday which was an effect of the overnight change in global rates. Previously, the precious metal had closed at Rs 47,295 per 10 grams.
Silver lost Rs 559 to Rs 67,465 per kilogram from Rs 68,024 per kilogram. The Rupee, on the other hand, went up by 4 paise against the Dollar.
In the international market, however, gold was higher at $1,805 per ounce and silver was flat at $25.93 per ounce. “Prices of the yellow metal were immobile with fall in US treasury yields,” said HDFC Securities Senior Analyst Tapan Patel.
Navneet Damani, VP at Motilal Oswal Financial Services said that yellow metal’s prices are only going to rise for another week, making it the 3rd weekly gain in a row, even though there is a fall in US yields and Dollar.