Gold, silver prices fall by Rs 195 amid appreciation in the rupee

Gold price fell by Rs 195 to Rs 49,580 per 10 gram in the national capital on Tuesday amid appreciation in the rupee, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 49,775 per 10 gram.

Silver also declined by Rs 195 to Rs 56,155 per kg from Rs 56,350 per kg in the previous trade. The rupee settled 9 paise higher at 81.58 (provisional) against the US dollar on Tuesday as the American currency retreated from its elevated levels.

In the international market, gold was quoting lower at USD 1,637 per ounce, while silver was flat at USD 18.69 per ounce. "In the physical market, gold demand has been seen from jewellers in expectation of better seasonal demand. However, the higher bond yields and a stronger dollar have been weighing on precious metals," said Dilip Parmar, Research Analyst at HDFC Securities.