Gold dips Rs 50; Silver falls Rs 300

New Delhi: Gold prices declined Rs50 to Rs62,900 per 10 grams in the national capital on Wednesday amid weak trends in international markets, according to HDFC Securities. The precious metal had closed at Rs62,950 per 10 grams on Tuesday.

Silver prices also fell Rs300 to Rs73,900 per kilogram. In the previous trade, silver had ended at Rs74,200 per kilogram. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs62,900 per 10 grams, down by Rs50 from the previous close,” said Saumil Gandhi, Senior Analyst - Commodities, HDFC Securities. In the international markets, spot gold at Comex was trading down at $2,029 per ounce from $2,034 per ounce in the previous trade. Going forward, traders now keep an eye on today's US GDP data, which may provide further direction for gold prices, he said.