Re rise takes sheen of gold

Gold in the national capital on Wednesday declined Rs 152 to Rs 46,328 per 10 gram amid muted global trends and rupee appreciation. In the previous trade, the precious metal had closed at Rs 46,480 per 10 gram. Silver also dipped Rs 286 to Rs 62,131 per kilogram from Rs 62,417 per kilogram in the previous trade. The rupee appreciated 6 paise to 74.29 against the US dollar in early trade on Wednesday. In the international market, gold was trading marginally higher at $1,787 per ounce and silver was flat at $23.74 per ounce. "Gold prices fluctuated in an upper trading range on mixed global cues," said Tapan Patel, senior analyst (commodities), HDFC Securities. Navneet Damani, V-P (commodities research), Motilal Oswal Financial Services, adds, "gold traded steady hovering over the one week high, as the precious metal was caught between mixed US economic data, a firmer dollar and safe-haven demand driven by the Delta coronavirus variant fears."