Gold gains Rs 76; silver tumbles Rs 710

Gold in the national capital on Thursday gained Rs 76 to reach Rs 50,027 per 10 grams, supported by rupee depreciation, according to HDFC Securities.

In the previous trade, the precious metal had finished at Rs 49,951 per 10 grams. Pic: Reuters

Gold in the national capital on Thursday gained Rs 76 to reach Rs 50,027 per 10 grams, supported by rupee depreciation, according to HDFC Securities.

In the previous trade, the precious metal had finished at Rs 49,951 per 10 grams.

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In contrast, silver tumbled Rs 710 to Rs 60,224 per kg from Rs 60,934 per kg in the previous trade.

The rupee extended its losses and slumped 10 paise to close at a fresh record low of 77.72 (provisional) against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows.

In the international market, gold was trading lower at USD 1,812 per ounce while silver was flat at USD 21.33 per ounce.

"Gold prices traded weak with spot gold prices at COMEX trading marginally down at USD 1,812 per ounce on Thursday. Gold prices traded under pressure as traders and investors weighed on aggressive Fed despite weak equity indices," said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

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