Gold prices decline Rs 50; Silver falls Rs 300

New Delhi, Feb 28 (PTI) Gold prices declined Rs 50 to Rs 62,900 per 10 grams in the national capital on Wednesday amid weak trends in international markets, according to HDFC Securities.

The precious metal had closed at Rs 62,950 per 10 grams on Tuesday.

Silver prices also fell Rs 300 to Rs 73,900 per kilogram. In the previous trade, silver had ended at Rs 74,200 per kilogram.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 62,900 per 10 grams, down by Rs 50 from the previous close,” said Saumil Gandhi, Senior Analyst – Commodities, HDFC Securities.

In the international markets, spot gold at Comex was trading down at USD 2,029 per ounce from USD 2,034 per ounce in the previous trade.

Going forward, traders now keep an eye on today’s US GDP data, which may provide further direction for gold prices, he said.

“In the international markets, spot gold at Comex was trading at USD 2,029 per ounce, down by USD 5 from the previous close,” Gandhi added.

Silver remained marginally down at USD 22.35 per ounce from USD 22.65 per ounce the day before.