Gold prices fall Rs 58; silver zooms Rs 2,360

Gold prices fell by Rs 58 to Rs 38,140 per 10 gram in the national capital on Tuesday, while silver zoomed Rs 2,360 to Rs 47,580 per kilogram, according to HDFC Securities.

 

“Spot gold prices for 24 Karat in Delhi fell by Rs 58, limiting the downside on weaker rupee. The spot rupee traded 8 paise weaker against the dollar during the day,” Tapan Patel, senior analyst – commodities, HDFC securities noted.

 

In the international market, gold prices were trading lower at USD 1,460 per ounce in New York, while silver was quoting flat at USD 16.95 an ounce.

 

“International gold prices traded weak on stronger dollar as US-China trade worries have shifted safe haven buying to dollar,” he added.

 

On Monday, gold had closed at Rs 38,198 per 10 gram here, while silver closed at Rs 45,220 per kilogram.