Gold price snaps 3-day gain, falls Rs 263; silver declines Rs 806

Snapping a three-day winning streak, gold prices on Friday slipped by Rs 263 to Rs 48,861 per 10 grams in the national capital, due to a weak trend in the international market, according to HDFC Securities.

The precious yellow metal had closed at Rs 49,124 per 10 gm in the previous session.

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Silver prices also declined from Rs 806 to Rs 66,032 per kilogram, compared with the previous close of Rs 66,838 per kg.

HDFC Securities Senior Analyst (Commodities) said, "Following weaker COMEX (New York-based commodity bourse), spot prices for 24 karat gold in Delhi lowered by Rs 263 per 10 gm, pausing three-day winning streaks."

In the international market, gold was trading weaker at USD 1,861 an ounce, while silver was down at USD 25.52 an ounce.
 

The story has been taken from a news agency