Precious metals surge: Gold falls Rs 105 on stronger rupee, weak cues; silver surges by Rs 505

On Wednesday, gold closed at Rs 39,090 per 10 gram.

Press Trust of India October 17, 2019 17:41:39 IST
Precious metals surge: Gold falls Rs 105 on stronger rupee, weak cues; silver surges by Rs 505
  • Gold prices on Thursday declined Rs 105 to Rs 38,985 per 10 gram in the national capital

  • On Wednesday, gold closed at Rs 39,090 per 10 gram

  • Gold was trading lower at $1,488 an ounce in the international market, while silver quoted higher at $17.45 per ounce.

New Delhi: Gold prices on Thursday declined Rs 105 to Rs 38,985 per 10 gram in the national capital on a stronger rupee and weak global cues, according to HDFC Securities.

However, silver surged by Rs 509 to Rs 46,809 per kg here from its previous close of Rs 46,300 per kg.

Precious metals surge Gold falls Rs 105 on stronger rupee weak cues silver surges by Rs 505

Sets of gold bangles are displayed in a showcase of a showroom. Reuters

On Wednesday, gold closed at Rs 39,090 per 10 gram.

"International gold prices traded weak on Brexit hopes and the US-China trade deal optimism," HDFC Securities Senior Analyst - Commodities Tapan Patel said.

Gold was trading lower at $1,488 an ounce in the international market, while silver quoted higher at $17.45 per ounce.

The Indian rupee was trading 18 paise stronger against dollar during the day and weighed on gold prices, he added.

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