Gold falls Rs 61 on weak global prices, absence of demand

New Delhi: Gold on Tuesday fell Rs 61 to Rs 40,422 per 10 gram in the national capital on weak global prices and absence of demand, according to HDFC Securities. 

In the previous trade, it had closed at Rs 40,483 per 10 gram. 

Silver prices tumbled Rs 602 to Rs 47,083 per kg, compared with Rs 47,685 per kg on Monday.
 
"Spot gold for 24 karat in Delhi was trading down by Rs 61 on weak global prices and absence of spot demand," Tapan Patel, senior analyst (commodities), HDFC Securities, said. 

In the international market, gold was quoting lower at USD 1,544 per ounce and silver at USD 17.75 per ounce. 

"Gold prices are trading down on positive global cues as investors are awaiting for the official agreement of the US-China Phase-1 trade deal. Strong equity indices have also pressured gold prices," he added.