Gold rises Rs 118, silver declines by Rs 2,384

New Delhi: Gold prices in the national capital rose by Rs 118 to Rs 53,860 per 10 gram on Thursday amid rupee depreciation, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 53,742 per 10 gram.

Silver prices, however, declined by Rs 2,384 to Rs 64,100 per kg from Rs 66,484 per kg in the previous trade.

“Spot gold price for 24 carat in Delhi was up Rs 118 on rupee depreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee fell 4 paise to close at 74.84 (provisional) against the US dollar on Thursday, tracking weak domestic equities and strong American currency.

In the international market, gold was quoting lower at USD 1,956 per ounce, while silver was trading at USD 23.50 per ounce. (PTI)