Gold drops Rs 293; silver tumbles Rs 1,075

Gold prices in the national capital on Friday fell by Rs 293 to Rs 49,970 per 10 grams amid decline in international precious metal prices, according to Securities. In the previous trade, the yellow metal settled at Rs 50,263 per 10 grams.

Silver also tumbled by Rs 1,075 to Rs 54,326 per kg from Rs 55,401 per kg in the previous trade.

“Spot gold prices for 24-carat gold in Delhi fell by Rs 293 reflecting overnight fall in COMEX gold prices,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

In the international market, gold was trading lower at USD 1,703 per ounce while silver was flat at USD 18.23 per ounce.

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