Markets

Gold declines by ₹95 on weak global trend

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Gold prices fell ₹95 to ₹51,405 per 10 gram in the national capital on Thursday amid a weak global trend and rupee appreciation, according to HDFC Securities.

The precious metal had closed at ₹51,500 per 10 gram in the previous trade.

Silver prices also declined ₹504 to ₹63,425 per kilogram from ₹63,929 per kilogram in the previous trade.

“Spot gold prices for 24 carat in Delhi declined by ₹95 on weak global prices and rupee appreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee appreciated by 4 paise to close at 73.54 against the US dollar on Thursday.

In the international market, gold was trading lower at $1,918 per ounce, while silver was quoting flat at $24.89 per ounce.

Navneet Damani, VP — Commodities Research, Motilal Oswal Financial Services said, “Gold dipped after inching higher in the previous session amidst to and fro comments on the COVID-19 relief bill and some recovery witnessed in dollar.”

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Printable version | Nov 30, 2020 8:10:54 PM | https://www.thehindu.com/business/markets/gold-declines-by-95-on-weak-global-trend/article32917962.ece

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