Gold falls Rs 160 to Rs 60,080/10 gm; silver climbs Rs 360

New Delhi: Gold prices declined Rs 160 to Rs 60,080 per 10 grams in the national capital on Friday amid weak global trends, according to HDFC Securities.

The precious metal had ended at Rs 60,240 per 10 grams in the previous trading session.

Silver, however, climbed Rs 360 to Rs 72,500 per kilogramme.

"Spot gold prices in the Delhi markets traded at Rs 60,080 per 10 grams, down Rs 160 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities, HDFC Securities, said.

In the overseas market, gold was quoting lower at USD 1,953 per ounce, while silver was trading higher at USD 23.10 per ounce.

Gold prices edged lower in Asian trading hours on Friday.

"Gold price has come under pressure this week after the US Fed officials advocated more action to curb inflation, diminishing expectations that the central bank's tightening campaign has ended," Gandhi added.