Gold declines Rs 102 to Rs 48,696 per 10 grams; silver marginally lower

New Delhi: Gold prices declined Rs 102 to Rs 48,594 per 10 grams in the national capital on Friday.

The precious metal had closed at Rs 48,696 per 10 grams in the previous trade. Silver dipped marginally by Rs 16 to Rs 62,734 per kg, from Rs 62,750 per kg in the previous trade.

Gold futures on MCX

Gold futures on Friday fell by 0.13 per cent to Rs 49,015 per 10 gram as participants offloaded their holdings on low spot demand. On the Multi Commodity Exchange, gold prices for February delivery declined by Rs 62, or 0.13 per cent, to Rs 49,015 per 10 gram in a business turnover of 11,849 lots.

Meanwhile, Oil prices eased on Friday but were set for a sixth week of gains, as the rollout of novel coronavirus vaccination programmes fed hopes that demand for fuel would rebound next year. Brent was down 19 cents or 0.4% at $50.06 a barrel by 0946 GMT, after rising above $51 a barrel on Thursday to an early-March high. US oil was down 11 cents, or 0.2%, at $46.67 a barrel, having risen almost 3% in the previous session, as per a Reuters report.