Gold prices fell ₹137 to ₹53,030 per 10 gram in the national capital on Wednesday amid rupee appreciation, according to HDFC Securities.
The precious metal had on Tuesday closed at ₹53,167 per 10 gram.
“Spot gold prices for 24 karat in Delhi were down by ₹137 on rupee appreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The rupee strengthened by 12 paise and settled at 73.52 (provisional) against the US dollar on Wednesday supported by positive domestic equities and weak American currency.
Silver also declined ₹517 to ₹70,553 per kg, from the previous close of ₹71,070 per kg.
In the international market, gold was trading with gains at USD 1,967.7 per ounce and silver was flat at USD 27.40 per ounce.
“Gold prices (globally) fluctuated in the upper range ahead of key Federal Open Market Committee meeting,” he added.