Markets

Gold rises ₹296 on weaker rupee, rally in global prices

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Gold on November 20 rose by ₹296 to ₹39,194 per 10 gram in the national capital on weaker rupee and rally in international prices, as per HDFC Securities.

The yellow metal had closed at ₹38,898 per 10 gram on November 19.

“Spot gold prices for 24 Karat in Delhi rallied by ₹296 on weaker rupee and rally in international gold prices,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The spot rupee was trading around 20 paise weaker against the dollar during the day, he added.

The rupee opened on a weak note and fell 9 paise to 71.80 against the U.S. dollar in opening trade as U.S.-China trade deal concerns weighed on investors.

Silver prices also jumped ₹331 to ₹46,103 per kg from ₹45,772 per kg in the previous trade.

“Gold prices traded higher on Wednesday, gaining for the third consecutive day on U.S.-China political spat and worries over trade deal,” he said.

In the global market, gold prices were trading higher at $1,478 per ounce, while silver was quoting at $17.17 an ounce.

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Printable version | Dec 6, 2019 12:53:38 AM | https://www.thehindu.com/business/markets/gold-rises-296-on-weaker-rupee-rally-in-global-prices/article30027409.ece

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