New Delhi | Jagran Business Desk: The weak trend globally and the decrease in participants' deals are showing a continuing decline in gold and silver prices. Gold futures declined 0.85 per cent to Rs 52,478 per 10 gram on Friday as participants offloaded their holdings on lower spot demand.

On the Multi Commodity Exchange, the gold prices for October deliver witnessed a fell by Rs 452, or 0.85 per cent and reached Rs 52,478 per 10 gram in a business turnover of 15,577 lots.

Meanwhile, the yellow metal for December delivery witnessed a rise of Rs 525, or 0.99 per cent and reached Rs 52,600 per 10 gram in a business turnover of 2,056 lots.  

The price of contract silver also witnessed a decline by Rs 2,425, or 3.41 per cent, to Rs 68,652 per kg. On Thursday, the closing price of silver was Rs 71,077 per kg in the futures market. Silver opened lower at Rs 70,650 per kg on Friday and later saw a further decrease in its price.

However, in the international market, gold futures were trading marginally lower at USD 1,951 per ounce and silver at USD 26.91 per ounce. "Gold prices traded volatile on Friday," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Meanwhile, the Gold prices jumped Rs 730 to Rs 53,691 per 10 grams in the national capital on Friday amid the rupee depreciation, according to HDFC Securities. In the previous trade, gold had closed at Rs 52,961 per 10 grams. Silver also gained Rs 1,520 to Rs 70,500 per kg, from Rs 68,980 per kg in the previous trade.

The rupee settled 6 paise lower at 74.90 (provisional) against the dollar on Friday tracking weak domestic equities. In the international market, gold was trading 0.66 per cent lower at USD 1,957.40 per ounce in New York

Posted By: Talib Khan