Gold and silver price on May 10: Gold declines by Rs 115, silver gains Rs 214

Gold in the national capital on Tuesday declined by Rs 115 to Rs 50,983 per 10 grams amid rupee appreciation, according to HDFC Securities. The precious metal had settled at Rs 51,098 per 10 grams in the previous trade.

Silver, however, gained Rs 214 to Rs 61,569 per kg from Rs 61,355 per kg in the previous trade.

"Spot gold prices for 24 carat at Delhi were Rs 115 down pressured by rupee appreciation despite strong global gold prices," said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

Snapping its two-day losing streak, the rupee appreciated 12 paise to end at 77.32 (provisional) against the US dollar on Tuesday.

In the international market, gold was trading higher at USD 1,860 per ounce while silver was flat at USD 22.24 per ounce. "Gold prices traded firm with spot gold prices at COMEX trading 0.39 per cent up at USD 1,860 per ounce on Tuesday," he added.

Source : DNA India