Markets

Gold marches higher; up ₹120 on festive demand, weaker rupee

Gold prices on Wednesday advanced ₹120 to ₹39,030 per 10 gram in the national capital on festive demand and weaker rupee, according to HDFC Securities.

Silver also jumped by ₹489 to ₹46,809 per kilogram here from its previous close of ₹46,320 per kilogram.

On Tuesday, gold closed at ₹38,910 per 10 gram.

Spot gold prices for 24 Karat in Delhi were trading higher by ₹120 at ₹39,030 on festival demand and weaker rupee, HDFC Securities Senior Analyst - Commodities Tapan Patel said.

Spot rupee was trading 8 paise weaker against dollar during the day, he added.

Gold was trading higher at USD 1,485 an ounce in the international market, while silver quoted flat at USD 17.33 per ounce.

The US-China trade deal jitters and developments on Brexit may keep gold prices on the edge in near term, he added.

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Printable version | Mar 27, 2020 7:20:16 PM | https://www.thehindu.com/business/markets/gold-marches-higher-up-120-on-festive-demand-weaker-rupee/article29699897.ece

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