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Gold declines by Rs 365; silver gains marginally

New Delhi: Gold in the national capital on Friday declined by Rs 365 to Rs 45,141 per 10 grams reflecting an overnight plunge in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,506 per 10 grams.

Silver gained marginally by Rs 21 to Rs 59,429 per kilogram from Rs 59,408 per kilogram in the previous trade.

In the international market, gold was trading higher at $1,754 per ounce and silver was flat at $22.68 per ounce.

“Gold prices pared some of the previous losses after falling below $1750 per ounce on Thursday,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services, “Gold traded steady after hovering around the $1750 level, amidst an increase in appetite for riskier assets, as investors continued to digest the fact about the sooner-than-expected interest rate hike and tapering action announced in the Fed policy meet.”

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