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Gold gains ₹145 on weaker rupee

Mon Oct 14 2019

 

 

Gold prices rose by ₹145 to ₹38,885 per 10 gram in the national capital on Monday on a weaker rupee, according to HDFC Securities. In the previous trade, the precious metal had closed at ₹38,740 per 10 gram.

 

Similarly, silver also jumped ₹240 to ₹46,510 per kilogram from ₹46,270 per kilogram on Saturday, it added.

 

“Spot gold price for 24 Karat in Delhi was up by ₹145 to ₹38,885 on weaker rupee against the dollar. Spot gold prices quoted higher with increased footfall in jewellery shops, signalling pick up in festival demand,” Tapan Patel, senior analyst - commodities, HDFC Securities said.

 

In international market, gold traded marginally higher at USD 1,490 an ounce, while silver was trading at USD 17.57 per ounce. “Gold prices traded firm on Monday with COMEX international spot gold prices trading near USD 1,490 on weak Chinese data,” Patel said.

 

Source: https://www.thehindubusinessline.com/