Gold declines by Rs 251, silver tumbles Rs 1,080

Gold in the national capital on Friday dipped by Rs 251 to Rs 51,035 per 10 grams reflecting overnight decline in international precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 51,286 per 10 grams.

Silver also tumbled Rs  1,080 to Rs 62,435 per kg from Rs 63,515 per kg in the previous trade.

In the international market, gold was trading marginally higher at USD 1,878 per ounce and silver was flat at USD 22.39 per ounce.

 “Gold prices traded firm with spot gold prices at COMEX trading 0.13 per cent up at USD 1,878 per ounce on Friday. Gold prices recovered from early lows following weakness in dollar index,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.