Gold slips by ₹95 on stronger rupee, weak demand


File   | Photo Credit: Reuters


Gold prices fell ₹95 to ₹38,460 per 10 gram; silver fell ₹128 to ₹44,607 per kg from ₹44,735 per kg

Gold prices fell ₹95 to ₹38,460 per 10 gram in the national capital on December 10 due to weak demand and a stronger rupee, according to HDFC Securities.

The yellow metal had closed at ₹38,555 per 10 gram in the previous session.

“Spot gold for 24 karat in Delhi was trading down by ₹95 on a stronger rupee and weak spot demand. The spot rupee was trading around 15 paise stronger against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Taking cues from gold, silver also fell ₹128 to ₹44,607 per kg from ₹44,735 per kg on December 9.

In the international market, gold was trading at $1,463 per ounce, while silver was quoting at $16.62 per ounce.

“Gold witnessed selling on expectations of initial trade deal between the US and China before December 15 deadline of new U.S. tariffs,” Mr. Patel said.

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Printable version | Jan 26, 2020 8:01:00 PM |

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