Gold falls Rs 50; Silver advances Rs 140

NEW DELHI: Gold price fell by Rs 50 to Rs 56,270 per 10 gram in the national capital on Thursday, according to HDFC Securities.

In the previous trade, the precious metal had touched Rs 56,320 per 10 gram.

Silver, however, jumped Rs 140 to Rs 65,720 per kilogram.

''Spot gold prices in the Delhi markets traded at Rs 56,270 per 10 gram, down Rs 50 per 10 gram,'' said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.

In the overseas market, both gold and silver were trading higher at USD 1,840 per ounce and USD 21.69 per ounce.

COMEX gold was trading higher in Asian trading hours on Thursday amid a slight pullback in the dollar index, said Sriram Iyer, Senior Research Analyst at Reliance Securities.

''However, the metal could face headwinds in the next few sessions as recent upbeat data from the US reinforced expectations that the Fed will need to keep pushing interest rates higher to curb high inflation,'' he added.