Gold declines Rs 1,100 to Rs 1.64 lakh per 10 grams, silver slips to Rs 2.71 lakh/kg

New Delhi: Gold prices declined Rs 1,100 to Rs 1.64 lakh per 10 grams in the national capital on Friday as traders booked profits at elevated levels for the second straight session, while silver also slipped to Rs 2.71 lakh per kilogram.

According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity depreciated Rs 1,100, or nearly 1 per cent, to Rs 1,64,100 per 10 grams (inclusive of all taxes).

Silver also fell Rs 600 to Rs 2,71,700 per kg (inclusive of all taxes) in the bullion market.

Analysts said traders locked in gains after the recent sharp rally in precious metal prices, even as global trends remained mixed.

However, in the international markets, bullion prices were trading higher on renewed safe-haven demand, with spot gold gaining $14.70, or 0.29 per cent, to $5,095.81 per ounce, while silver increasing 1.4 per cent to $83.40 per ounce.

Traders said escalating tensions in the Middle East continued to support precious metals, though profit-booking limited gains in the domestic markets.