Gold declines to Rs 59,600/10 gm; silver rises Rs 200

New Delhi: Gold price declined by Rs 100 to Rs 59,600 per 10 gram in the national capital on Wednesday amid a fall in prices of the precious metal globally, according to HDFC Securities.

In the previous trade, the yellow metal had ended at Rs 59,700 per 10 gram.

However, silver prices rose by Rs 200 to Rs 73,100 per kilogram.

In the overseas market, gold was trading lower at USD 1,904 per ounce, while silver was up at USD 22.70 per ounce.

Gold prices drifted lower to linger around the support of USD 1,900 after better-than-expected US economic data further dented gold’s investment appeal, Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas, said.

Investors are now awaiting the release of the minutes of the US Fed's July meeting, due later on Wednesday, which may reveal the central bank's willingness to raise interest rates, said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.