Gold fell by Rs 118 and silver by Rs 875 in spot

new Delhi : Gold and silver declined on Wednesday. Gold prices in Delhi bullion market fell by Rs. 118 to Rs. 49,221 per 10 grams. Silver also fell by Rs 875 to Rs 63,410 per kg. On Tuesday, gold had closed at Rs 49,339 per 10 grams.

HDFC Security Senior Analyst (commodities) Tapan Patel said, “Gold weakened due to weak global cues. The prices of 24-carat gold fell by Rs. 118 in Delhi. Rupee was weaker by 1 paise against dollar.

In the international market, gold was trading at $ 1,860 an ounce, while silver was at $ 24.22 an ounce. Patel said that gold prices remained under pressure due to the rise in the stock market. The introduction of mass vaccination in Britain brought pressure on gold prices following the approval of the Corona vaccine. However, he said that the announcement of the relief package and the weak dollar can limit the fall in gold prices.