Gold, silver prices fall; yellow metal trading at Rs 51,930 per 10 gram

Gold prices continue its losing streak as the yellow metal falls Rs 540 as compared to previous day's rate. 10 gram of 24-carat gold is currently trading at Rs 51,930, whereas, 10 gram of 22-carat gold is selling at Rs 47,600 after witnessing a decline of Rs 500 as compared to previous day's rate.

Silver, on the other hand, is also witnessing a losing streak as the precious metal falls Rs 2,000. One kg of silver is currently selling at Rs 56,900. 

Gold extended its selloff to an over nine-month low on Wednesday hurt by a stronger dollar, while the Federal Reserve's June meeting minutes established a more "restrictive" monetary policy.

In Delhi, Mumbai, Kerala, and Kolkata, 10 gram of 24-carat gold is selling at Rs 51,930, whereas, ten gram of 22-carat gold is trading at Rs 47,600. In Chennai, 10 gram of 24-carat gold and 22-carat gold is selling at Rs 51,710 and Rs 47,400 respectively. 

In Delhi, Mumbai, and Kolkata, 1 kg of silver is currently selling at Rs 56,900, whereas, in Chennai, one kg of silver is trading at Rs 62,500. 

Spot gold fell 1.4% to $1,738.99 per ounce by 2:52 p.m. ET (1852 GMT), after falling as much as 2.6% on Tuesday, largely unchanged after the release of the Fed minutes. Spot silver rose 0.1% to $19.22 per ounce.