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

Press Trust of India October 04, 2019 15:39:26 IST
Gold rallies Rs 210 to Rs 39,075 per 10 gram on weak rupee, strong global trends; silver prices fall by Rs 110
  • Gold prices went higher by Rs 210 to Rs 39,075 per 10 gram in the national capital on Friday supported by a weaker rupee and strong international trends, according to HDFC Securities

  • Silver, however, fell Rs 110 to Rs 46,490 per kilogram here from Thursday's closing price of Rs 46,600 per kilogram

  • Gold prices on Thursday closed at Rs 38,865 per 10 gram

New Delhi: Gold prices went higher by Rs 210 to Rs 39,075 per 10 gram in the national capital on Friday supported by a weaker rupee and strong international trends, according to HDFC Securities.

Silver, however, fell Rs 110 to Rs 46,490 per kilogram here from Thursday's closing price of Rs 46,600 per kilogram.

Gold rallies Rs 210 to Rs 39075 per 10 gram on weak rupee strong global trends silver prices fall by Rs 110

Representational image. Reuters

"Spot gold prices for 24 Karat in Delhi rose by Rs 210 supported by weaker rupee and strong international prices. The spot rupee was trading around 10 paise weaker against the dollar after the Reserve Bank of India cut the policy rate by 25 bps," said Tapan Patel, senior analyst (commodities), HDFC Securities.

Gold prices on Thursday closed at Rs 38,865 per 10 gram here.

In the international market, gold traded higher at $1,508 per ounce in New York and silver at $17.58 an ounce.

"The international gold prices traded strong on economic recovery concerns after US non-manufacturing PMI data came weaker than expected. Gold prices are trading higher on safe-haven buying on worries over trade talks, weak economic data and the possible tit-for-tat situation in US-EU trade issues," he added.

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