Gold falls Rs 40; silver declines Rs 594

Gold price in the national capital fell Rs 40 to Rs 50,833 per 10 grams on Monday amid a fall in the precious metal prices in the overseas market, according to Securities. In the previous trade, the yellow metal had touched Rs 50,873 per 10 grams.

Silver also declined by Rs 594 to Rs 56,255 per kilogram from Rs 56,849 per kg.

In the international market, gold was quoting lower at USD 1,655.75 per ounce while silver was down at USD 18.55 per ounce.

“The precious metal is down about 20 per cent since this year’s peak in March. Spot COMEX gold last traded at USD 1,655.75 an ounce,” said Dilip Parmar, Research Analyst at HDFC Securities.