Markets

Gold declines ₹ 137 amid tepid demand

File photo of gold bullion for representation.   | Photo Credit: REUTERS

Gold prices in the national capital dropped ₹ 137 to ₹ 51,108 per 10 gram on Tuesday amid rupee appreciation and subdued demand, according to HDFC Securities.

The precious metal had closed at ₹ 51,245 per 10 gram in the previous trade.

Silver, however, rose by ₹ 475 to ₹ 62,648 per kilogram from ₹ 62,173 per kilogram in the previous trade.

“Gold prices in India traded under pressure as spot gold prices for 24 karat in Delhi were weak by ₹ 137 on rupee appreciation and subdued physical demand,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee pared early losses and settled 13 paise higher at 73.71 against the US dollar on Tuesday, tracking positive domestic equities.

In the international market, gold rose marginally to USD 1,903.6 per ounce and silver was flat at USD 24.48 per ounce.

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Printable version | Dec 5, 2020 12:34:36 PM | https://www.thehindu.com/business/markets/gold-declines-137-amid-tepid-demand/article32953712.ece

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