Gold falls Rs 270; silver tumbles Rs 705

NewsDrum Desk
25 Nov 2022

New Delhi, Nov 25 (PTI) Gold prices fell by Rs 270 to Rs 52,837 per 10 grams in the national capital on Friday amid weak global trends, according to HDFC Securities.

In the previous trade, the precious metal had settled at Rs 53,107 per 10 grams.

Silver also tumbled by Rs 705 to Rs 61,875 per kg.

"Stronger rupee and risk-on sentiments weighed on the domestic gold prices," said Dilip Parmar, Research Analyst at HDFC Securities.

Bullion has rallied about 8 per cent in November amid dollar weakness, Parmar said.

The rupee appreciated 16 paise to 81.54 against the US dollar in early trade on Friday on broad dollar weakness and in line with its Asian peers.

"Gold consolidated in a broad range and volatility remained low after the Fed meeting minutes showed less hawkish outlook," said Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services.

In the international market, gold was quoting lower at USD 1,752.5 per ounce while silver was down at USD 21.30 per ounce. PTI HG MR

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