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Gold Falls Rs 233 On Weak Global Prices

Silver prices dropped by Rs 157 to Rs 47,170 per kg from Rs 47,327 per kg in the previous session.

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Gold prices on Monday fell by Rs 233 to Rs 41,565 per 10 grams in the national capital on weakness in the global market, according to HDFC Securities.

The yellow metal had closed at Rs 41,798 per 10 grams in the previous session.

"Spot gold of 24 karat in Delhi fell by Rs 233 with decline in global gold prices. Gold prices traded in lower range after a China National Health Commission official said that coronavirus is preventable and treatable," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Similarly, silver prices dropped by Rs 157 to Rs 47,170 per kg from Rs 47,327 per kg in the previous session.

In the international market, gold was trading lower at USD 1,579 per ounce, while silver was quoting almost flat at USD 17.74 per ounce.

"Gold prices may trade sideways in the current range with support at USD 1,560 and resistance at USD 1,580," Patel added. 

(PTI)