(Riya Singh, Intern Journalist): Gold and silver prices have been falling for the last four days, except on Tuesday. Gold has become cheaper by Rs 1,810 per 10 gram and silver by Rs 9,655 per kg between Monday and Thursday morning.
Gold prices rose by Rs 324 to Rs 50,824 per 10 gram in the national capital on Friday, halting its four-day decline over recovery in the international rates of the precious metal. It had closed at Rs 50,500 per 10 gram in the previous trade. Silver prices also bounced back and gained Rs 2,124 to Rs 60,536 per kilogram from the previous close of Rs 58,412 per kilogram.
Globally, gold gained at $1,873 per ounce, while silver was flat at $23.10 per ounce. Gold prices witnessed recovery from Thursday’s evening session as the dollar index pared gains on US stimulus hopes.
Compared with the record rate of gold, gold has become cheaper by Rs 6,444 per 10 gram between August 7 to Friday morning. Silver price is also down to Rs 19,758 per kg. Gold and silver prices have fallen due to the rise in the dollar against other currencies, including the rupee.
According to experts, gold prices in foreign markets fell by 2% to $1862 an ounce due to the rise in the US dollar. Experts believe that gold prices may fall further in the coming days. The impact of the strengthening of the US dollar will be seen on gold, they added.
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