Gold falls Rs 139; silver declines Rs 363

Gold price in the national capital fell by Rs 139 to Rs 50,326 per 10 grams on Friday amid a fall in international precious metal prices, according to Securities. In the previous trade, the yellow metal had finished at Rs 50,465 per 10 grams.

Silver also fell sharply by Rs 363 to Rs 58,366 per kilogram from Rs 58,729 per kg in the previous trade.

In the international market, gold was quoting lower at USD 1,665 per ounce, while silver was flat at USD 19.50 per ounce.

“Gold prices have capped downside despite of stronger dollar over recession worries as the US Federal Reserve committed to raise interest rates,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.