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Gold Price Today: Gold becomes cheaper

Gold on Monday fell by Rs 242 to Rs 50,735 per 10 grams in the national capital amid the strengthening of rupee.

In the previous trade, gold had closed at Rs 50,977 per 10 grams. HDFC Securities gave this information.

Silver also declined by Rs 770 to Rs 60,460 per kg from Rs 61,230 per kg in the previous trade.

The rupee on Monday gained 7 paise to close at 77.98 (provisional) against the US dollar after crude oil prices fell from higher levels.

International market at $ 1,839 an ounce, while silver was trading flat at $ 21.60 an ounce. 

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot gold prices on Somex traded marginally higher on Monday at USD 1,839 an ounce with spot prices trading at USD 1,839 an ounce.

A weaker dollar and lower bond yields supported gold prices.

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