Gold falls ₹40; silver declines ₹85

(PTI) Gold price fell ₹40 to ₹56,840 per 10 grams in the national capital on Monday amid a fall in rates of precious metal globally, according to HDFC Securities.

In the previous trade, the yellow metal had touched ₹56,880 per 10 grams.

Silver also declined ₹85 to ₹68,980 per kilogram.

"Spot gold prices in the Delhi markets traded at ₹56,840 per 10 grams, down ₹40 per 10 grams," said an analyst at HDFC Securities.

In the overseas market, gold was quoting lower at USD 1,926 per ounce while silver was flat at USD 23.88 per ounce.

Comex spot gold price is trading lower by 0.20 per cent at USD 1,926 per ounce against its previous close, the analyst said.

"Focus this week is squarely on US Q4 GDP and Core PCE data. Growth is expected to have slowed in the fourth quarter from the third, amidst the effects of tighter monetary policy," Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said.