Gold and Silver Price Today: In the national capital, the price of gold fell by Rs 250 to Rs 59,800 per 10 grams on Thursday.
Gold and Silver Price Today: Amidst weak signals in the overseas market, the price of gold fell by Rs 250 to Rs 59,800 per 10 grams in the national capital on Thursday. In the previous trade, the precious metal had closed at Rs 60,050 per 10 grams. Silver also fell by Rs 300 to Rs 73,300 per kg. HDFC Securities Senior Analyst Saumil Gandhi said that gold declined further on Thursday, spot gold prices in Delhi markets were trading at Rs 59,800 per 10 grams (the lowest level since July 13), which is higher than the previous level. 250 less than the closing price of the day. In global markets, gold and silver were trading lower at US$ 1,919 an ounce and US$ 22.80 an ounce, respectively.
Gold prices rise in futures
Speculators created fresh positions due to strong demand in the spot market, due to which gold prices rose by Rs 12 to Rs 58,985 per 10 grams in futures trade on Thursday. On the Multi Commodity Exchange, gold contracts for delivery in October rose by Rs 12, or 0.02 per cent, to Rs 58,985 per 10 grams, with a business turnover of 13,828 lots. Analysts said creation of fresh positions by participants mainly influenced gold prices. Globally, gold was trading 0.11 per cent higher at USD 1,952.70 an ounce in New York.
Rupee strengthened by 17 paise
The rupee on Thursday gained 17 paise to close at 82.68 against the US dollar after the Reserve Bank dropped key interest rates. Forex traders said weakness in the US dollar mainly supported the rupee. However, a weak domestic market and a rise in crude oil prices capped the gains. At the Interbank Foreign Exchange, the local unit opened at 82.81 against the US dollar and moved in a range of 82.68 to 82.86 during the day’s trade. On Wednesday, the rupee closed at 82.68, up 17 paise from its previous closing level of 82.85.
