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According to HDFC Securities, gold prices declined by ₹371 to ₹56,100 per 10 grams in the national capital on February 21 amid a weak global trend.
In the previous trade, the yellow metal had closed at Rs 56,471 per 10 grams.
Silver also fell by Rs 230 to Rs 65,742 per kg.
Saumil Gandhi, Senior Analyst – Commodities, HDFC Securities, said, “Gold is trading at ₹56,100 per 10 grams, down from ₹371 per 10 grams in Delhi markets.”
In the overseas market, the prices of both gold and silver fell to $ 1,833 an ounce and $ 21.68 an ounce, respectively.
Comex gold prices declined marginally in Asian trading hours on Tuesday on hopes of another hike in interest rate, while the dollar index remained higher, said Sriram Iyer, Senior Research Analyst at Reliance Securities.
“Markets are now awaiting the publication of the minutes of the February meeting of the US Federal Reserve, which will be released on Wednesday,” Mr Aiyar said.