Gold declines by Rs 42, silver plunges Rs 1,217: HDFC Securities

Gold prices fell by Rs 42 to Rs 48,964 per 10 gram in the national capital on Monday, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 49,006 per 10 gram.

Silver prices also declined by Rs 1,217 to Rs 49,060 per kg from Rs 50,277 per kg in the previous trade.

In the international market, gold was quoting higher at USD 1,776 per ounce, while silver was trading at USD 18.10 per ounce.

"Gold prices may get support over concerns on rising virus cases in US and other major economies," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.