Gold prices today fell by Rs 270 to Rs 52,837 per 10 grams in the national capital Delhi amid weak global trends. The yellow metal had gained over Rs 300 to settle at Rs 53,107 per 10 grams in the previous trade. In Bengaluru, the standard gold of 99.5 purity was priced at Rs 54,420 per 10 grams while the ornamental gold was priced at Rs 50,070 per 10 grams.
In Mumbai, standard gold was priced at Rs 52,449 per 10 grams while pure gold was priced at Rs 52,660 per 10 grams. Silver was priced at Rs 61,829 per kg in the financial capital of India.
In Kolkata, 24-carat gold was priced at Rs 52,400 per 10 grams while 22-carat gold was priced at Rs 49,990 per 10 grams. In Chennai, 22-carat gold is priced at Rs 49,350 per 10 grams, while 24-carat gold was priced at Rs 51,820 per 10 grams.
In Lucknow, the ornamental gold was priced at Rs 49,650 per 10 grams while the 24-carat gold was priced at Rs 52,130 per 10 grams.
According to HDFC Securities, silver also tumbled by Rs 705 to Rs 61,875 per kg today. Dilip Parmar, Research Analyst at HDFC Securities said that bullion has rallied about 8 per cent in November amid dollar weakness. The rupee appreciated 16 paise to 81.54 against the US dollar in early trade on Friday on broad dollar weakness and in line with its Asian peers.
In the international market, gold was quoting lower at USD 1,752.5 per ounce while silver was down at USD 21.30 per ounce.
In futures trade, Gold prices fell by Rs 154 to Rs 52,517 per 10 grams as speculators reduced their positions. On the Multi Commodity Exchange, gold contracts for December delivery traded lower by Rs 154 or 0.29 per cent at Rs 52,517 per 10 grams in a business turnover of 3,842 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants.