Gold falls by Rs 81 at close, silver fall marginally

Gold prices were marginally down by Rs 81 to Rs 50,057 per 10 gram on Thursday, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 50,138 per 10 gram.

Silver also witnessed muted trend as it slipped marginally by Rs 4 to Rs 62,037 per kg, from Rs 62,041 per kg in the previous trade.

"Gold and silver prices are expected to trade in the current range during the current festival days where retail investors and buyers will face less volatility," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

He also added that jewellers in India are bracing for festival sales on the auspicious day of Dhanteras.

Dhanteras, considered the most auspicious day in Hindu calendar for buying items ranging from precious metals like gold and silver to utensils, is being celebrated for two days on Thursday and Friday this year.

In the international market, gold was trading marginally higher at USD 1,865 per ounce and silver was flat at USD 24.09 per ounce.

Global markets are awaiting for fresh triggers weighing vaccine progress and surging virus infections across the globe, he added.