Gold price down Rs 196 per 10 gram

Prices of gold on Friday declined Rs 196 to Rs 38,706 per 10 gram in the national capital amid a subdued global trend, according to HDFC Securities.

On Thursday, the precious metal closed at Rs 38,902 per 10 gram.

In tandem with a weak trend in gold, silver prices also tumbled Rs 956 to Rs 45,498 per kg from Rs 46,454 per kg in the previous trade.

"Spot gold prices for 24 Karat in Delhi were trading Rs 196 down with overnight decline in global gold prices. However, the downside was limited with sharp rupee depreciation after Moody's lowered India outlook," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.