Gold gains Rs 311 to Rs 40,241 per 10 gram on higher demand, rupee depreciation; silver prices fall by Rs 468
Gold prices on Wednesday rose by Rs 311 to Rs 40,241 per 10 gram in the national capital amid rupee depreciation and higher buying, according to HDFC Securities
New Delhi: Gold prices on Wednesday rose by Rs 311 to Rs 40,241 per 10 gram in the national capital amid rupee depreciation and higher buying, according to HDFC Securities.
The precious metal had closed at Rs 39,930 per 10 gram on Tuesday.
"Spot gold for 24 karat in Delhi was trading up by Rs 311, reflecting Tuesday's gains of international gold prices. Gold prices in India also got support from rupee depreciation with spot rupee trading around 13 paise weaker against the dollar during the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Silver prices, however, fell by Rs 468 to Rs 35,948 per kg against the previous close of Rs 36,416 per kg.
In the international market, both gold and silver were trading lower at $1,490 per ounce and $12.38 per ounce, respectively.
Meanwhile, the domestic equity market continued the weak trend, closing 1,709.58 points lower.
Gold rallies Rs 210 to Rs 39,075 per 10 gram on weak rupee, strong global trends; silver prices fall by Rs 110
In the international market, gold traded higher at $1,508 per ounce in New York and silver at $17.58 an ounce
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