Gold prices slip by Rs 85 to to Rs 48,811 per 10 gram

New Delhi: Gold prices in the national capital fell Rs 85 to Rs 48,811 per 10 gram on Monday amid rupee appreciation, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 48,896 per 10 gram.

Silver, however, rose Rs 144 to Rs 49,880 per kg from Rs 49,736 per kg in the previous trade.

"Spot gold prices for 24 karat in Delhi were trading down by Rs 85 amid rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee on Monday appreciated 17 paise to close at 76.03 (provisional) against the US dollar in line with positive equity markets amid sustained foreign fund inflows.

Gold prices in the international market were trading higher at USD 1,746 per ounce and silver at USD 17.83 per ounce.

"Gold prices extended gains on Monday on worries over rising coronavirus cases and fear of slow economic recovery. The growing virus cases across the world has turned global investors cautious on riskier assets," he added.