Gold prices fell by Rs 268 to Rs 50,860 per 10 grams in the national capital on Tuesday amid a decline in international prices of the precious metal, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 51,128 per 10 gram. Silver also witnessed muted trend and tanked Rs 1,126 to Rs 62,189 per kilogram from Rs 63,315 per kilogram in the previous trade.
In the international market, gold dipped to trade at USD 1,901 per ounce and silver was flat at USD 24.37 an ounce.
“Gold prices traded down as investors awaited the outcome of the stimulus deadline of Tuesday,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, “Gold prices continue to trade in a narrow range amid the caution set in ahead of the deadline to reach an agreement on a new US coronavirus stimulus, diminishing the metal’s appeal.