Gold falls on global cues, rupee appreciation; silver drops by Rs 223

Gold prices declined by Rs 195 to Rs 51,947 per 10 grams in the national capital on Monday amid weak global cues and rupee appreciation, according to HDFC Securities.

The precious metal had closed at Rs 52,142 per 10 grams in the previous trade.

Silver declined by Rs 223 to Rs 58,731 per kg from Rs 58,954 per kg in the previous trade.

The rupee strengthened by 13 paise to 79.11 against the US dollar in opening trade on Monday.

In the international market, gold was quoting lower at USD 1,764 per ounce while silver was flat at USD 20.21 per ounce.

"Gold prices traded weak with spot gold prices at COMEX trading around 0.14 per cent down," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.