Gold declines by Rs 271 to Rs 49,729/10 gms; silver tumbles Rs 512

Gold prices in the national capital fell by Rs 271 to Rs 49,729 per 10 grams on Friday amid a strengthening rupee, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 50,000 per 10 grams.

Silver also declined by Rs 512 to Rs 53,382 per kg from Rs 53,894 per kg on Thursday.

The rupee appreciated 16 paise to close at 75.02 against the US dollar on Friday, tracking positive domestic equities and a weakening American currency.

In the international market, gold was trading higher at USD 1,801.5 per ounce, while silver was ruling flat at USD 19.08 per ounce.