Gold price drops by Rs 46 amid weak global trends

Gold prices dipped by Rs 46 to Rs 49,754 per 10 grams in the national capital on Monday in line with global trends, according to HDFC Securities.

In the previous trade, the precious metal finished at Rs 49,800 per 10 gram.

Silver, however, gained Rs 213 to Rs 59,452 per kg from Rs 59,239 per kg in the previous trade.

"Spot gold prices for 24 carat gold at Delhi were down by Rs 46 in line with decline in global gold prices," said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

In the international market, gold was trading lower at $1,797 per ounce and silver was marginally lower at $20.96 per ounce.

"Gold prices traded weak with spot gold prices at COMEX trading 0.77 per cent down at $1,797 per ounce on Monday. Gold prices traded under pressure on stronger dollar despite of fall in bond yields," he added.
 

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