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.

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Printable version | Jul 4, 2020 12:02:34 PM |

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