Gold and silver prices fall by Rs 195 amid appreciation in the rupee

The price of gold in the national capital decreased by Rs 195 to Rs 49,580 per 10 gramme on September 27 as the rupee strengthened.

In the previous trade, the precious metal had closed at Rs 49,775 per 10 grams.

Silver also declined by Rs 195 to Rs 56,155 per kg from Rs 56,350 per kg in the previous trade. The rupee settled 9 paise higher at 81.58 (provisional) against the US dollar as the American currency retreated from its elevated levels.

Gold was priced lower on the international market at USD 1,637 per ounce, while silver was steady at USD 18.69 per ounce. In the physical market, jewelers have increased their gold purchases in anticipation of greater seasonal demand.

Higher bond yields and a stronger dollar, on the other hand, have weighed on precious metals”, according to the reports.