Gold marginally up; silver declines ₹ 626

Gold prices pared some of the previous gains.

Gold in the national capital on Friday gained marginally by ₹ 22 to ₹ 48,669 per 10 grams in line with firm global trends and rupee depreciation, according to HDFC Securities.

In the previous trade, the precious metal settled at ₹ 48,647 per 10 grams.

Silver in contrast, declined by ₹ 626 to ₹ 62,214 per kg from ₹ 62,840 per kg in the previous trade.

The Indian rupee declined 23 paise to close at 75.38 against the U.S. dollar on Friday.

In the international market, gold was trading with gains at $ 1,827 per ounce and silver was flat at $ 23.02 per ounce.

"Gold prices traded marginally up with spot gold prices at COMEX trading at $ 1,827 per ounce on Friday," Tapan Patel, Senior Analyst (commodities) at HDFC Securities, said.

Gold prices pared some of the previous gains following stronger dollar and rally in U.S. bond yields he added.

"However, the yellow metal has kept firm as the US CPI rose in January to 7.50% which capped the downside as inflation hedge," Mr. Patel added.

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