Gold marginally up, silver declines Rs 626

Representative image

Gold in the national capital on Friday gained marginally by Rs 22 to Rs 48,669 per 10 grams in line with firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 48,647 per 10 grams.

Silver in contrast, declined by Rs 626 to Rs 62,214 per kg from Rs 62,840 per kg in the previous trade. The Indian rupee declined 23 paise to close at 75.38 against the US dollar on Friday.

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In the international market, gold was trading with gains at $1,827 per ounce and silver was flat at $23.02 per ounce. "Gold prices traded marginally up with spot gold prices at COMEX trading at $1,827 per ounce on Friday," Tapan Patel, Senior Analyst (commodities) at HDFC Securities, said.

Gold prices pared some of the previous gains following stronger dollar and rally in US bond yields he added. "However, the yellow metal has kept firm as the US CPI rose in January to 7.50% which capped the downside as inflation hedge," Patel added.