Gold Falls ₹ 315; Silver Declines ₹ 635

Gold price fell by ₹ 315 to ₹ 51,679 per 10 gram in the national capital on Monday amid a decline in international precious metal rates, according to HDFC Securities.

The yellow metal had closed at ₹ 51,994 per 10 gram in the previous trade.

Silver also declined by ₹ 635 to ₹ 55,416 per kg.

In the international market, gold was quoting lower at USD 1,737 per ounce while silver was flat at USD 18.90 per ounce.

“Gold prices traded lower on stronger dollar and hawkish comments from several US Federal Bank officials over committing to raise interest rates at a sharp clip to combat overheated inflation,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.