Gold in the national capital on Thursday declined ₹ 259 to ₹ 48,127 per 10 grams amid weak global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at ₹ 48,386 per 10 gram.
Silver also dipped ₹ 110 to ₹ 70,274 per kg, from ₹ 70,384 per kg in the previous trade.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices for 24 karat in Delhi fell by ₹ 259 reflecting decline in COMEX (New York-based commodity exchange) gold prices.” In the international market, gold was trading lower at $ 1,880 per ounce and silver was flat at $ 27.65 per ounce.
Gold prices traded lower with firm dollar, he added.
Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, “Gold prices edged lower after trading steady in the past few trading sessions, weighed down by a firmer dollar.” He added that investors sat on the sidelines waiting for clearer signals on inflation levels and economic growth ahead of US data and the European Central Bank meeting later in the day.