Gold prices decline Rs 236 on global selling, stronger rupee

Gold prices on Monday fell Rs 236 to Rs 40,432 per 10 gram in the national capital on global selling and stronger rupee, according to HDFC Securities. The precious metal had closed at Rs 40,668 per 10 gram in the previous trade.

Silver prices also dropped Rs 376 to Rs 47,635 per kg from Rs 48,011 per kg in the previous trade. "Spot gold of 24 karat in Delhi was trading Rs 236 down on global selling and stronger rupee. The spot rupee was trading around 13 paise stronger against the dollar during the day," Tapan Patel, senior analyst (commodities), HDFC securities, said.

Gold and silver in the international market were also trading lower at USD 1,550 per ounce and USD 17.97 per ounce, respectively. "Gold prices have witnessed correction on easing geopolitical risk on US-Iran military escalation. Global markets have turned focused on US-China phase-1 trade deal," he added.