Markets

Gold falls ₹105 on stronger rupee, weak cues

Representational image.

Representational image.   | Photo Credit: Reuters

Gold prices declined ₹105 to ₹38,985 per 10 gram; silver surged by ₹509 to ₹46,809 per kg

Gold prices on October 17 declined ₹105 to ₹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 ₹509 to ₹46,809 per kg in New Delhi from its previous close of ₹46,300 per kg.

On October 16, gold closed at ₹39,090 per 10 gram.

“International gold prices traded weak on Brexit hopes and the U.S.-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.

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jul 4, 2020 12:02:34 PM | https://www.thehindu.com/business/markets/gold-falls-105-on-stronger-rupee-weak-cues/article29725936.ece

Next Story