Gold declines Rs 342; silver plummets by Rs 2,007

Gold prices on Friday declined by Rs 342 to Rs 45,599 per 10 grams and silver plummeted by Rs 2,007 to Rs 67,419 per kg in the national capital, due to selling in the international market, according to HDFC Securities. The precious metal had closed at Rs 45,941 per 10 grams on Thursday.

Silver plummeted by Rs 2,007 to Rs 67,419 per kg, compared with the previous close of Rs 69,426 per kg.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot prices for 24 karat gold at Delhi fell for the third day by Rs 342, in line with selling in global gold prices despite of sharp rupee depreciation."

In the international market, gold was trading lower at $1,760 an ounce, while silver was down at $26.78 an ounce.