Gold prices gain Rs 538 to Rs 38,987 per 10 gm on recovery in global rates; silver prices up by Rs 1,080

  • Gold prices traded positive on Tuesday on trade talks uncertainty after new tariffs from the US and China came into effect from 1 September, Tapan Patel, Senior Analyst (Commodities), HDFC Securities said

  • Prices of 24 karat gold rose by Rs 538 to Rs 38,987 per 10 gram in the national capital on Tuesday, mainly on the back of a recovery in global rates

  • Silver prices too witnessed similar trends. The rate of silver zoomed by Rs 1,080 to Rs 47,960 per kilogram in the national capital, as per the data

New Delhi: Prices of 24 karat gold rose by Rs 538 to Rs 38,987 per 10 gram in the national capital on Tuesday, mainly on the back of a recovery in global rates, according to HDFC Securities.

Silver prices too witnessed similar trends. The rate of silver zoomed by Rs 1,080 to Rs 47,960 per kilogram in the national capital, as per the data.

"Gold prices traded positive on Tuesday on trade talks uncertainty after new tariffs from the US and China came into effect from 1 September," Tapan Patel, Senior Analyst (Commodities), HDFC Securities said.

 Gold prices gain Rs 538 to Rs 38,987 per 10 gm on recovery in global rates; silver prices up by Rs 1,080

Representative image. Reuters

On Monday, gold prices stood at Rs 38,449 per 10 gram, while silver was at Rs 46,880 per kilogram.

In the international market, gold prices ruled at $1,530 an ounce in New York while silver was quoted at $18.50 an ounce.

"The international spot gold prices pared morning losses and recovered to $1,530 an ounce supported by a weaker rupee," he said.

The rupee tumbled 67 paise to 72.09 against the US currency in early trade on Tuesday, tracking weak opening in domestic equities amid strong dollar demand from banks and importers.

The 30-share benchmark BSE Sensex slumped nearly 770 points as investors fretted over the deepening economic crisis and global trade tussle.

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Updated Date: Sep 03, 2019 16:50:26 IST