Categories: Business

Gold and silver price fall on weak global cues

Photo: SIRFNEWS

gold and silver price today

New Delhi. Gold and silver prices also fell on Tuesday in Delhi Bullion Market amid falling international prices of precious metals. According to information provided by HDFC Securities, gold fell by Rs 1,317 to Rs 54,763 per 10 grams on Tuesday. The previous closing price was Rs 56,080 per 10 grams. Silver also lost Rs 2,934 to Rs 73,600 per kg, which had closed at Rs 76,543 per kg in the previous trading session. HDFC Securities Senior Analyst (Commodity) Tapan Patel said, "There has been some curb on gold prices due to the correction in the rupee." In fact, the price of gold is based on dollar prices. Due to the improvement in the rupee, less rupees have to be given for the dollar, due to which gold prices have come down.

The rupee improved 12 paise to close at 74.78 against the US currency on Tuesday, amid improvement in the domestic stock market and the weakening of the dollar. In the international market, gold fell to $ 1,989 an ounce, while silver declined to $ 27.90 an ounce.

On the other hand, due to weak spot demand, the prices of gold and silver have also fallen in the futures market. At the Multi Commodity Exchange, the delivery gold contract fell by Rs 883, or 1.61 per cent, to Rs 54,063 per 10 grams in October. On the other hand, silver fell by Rs 2,660 to Rs 72,734 per kg. At the Multi Commodity Exchange, silver for delivery in September was down by Rs 2,660, or 3.53 per cent, to Rs 72,734 per kg, while it traded for 12,906 lots.

This post was published on August 11, 2020 6:49 pm

Content Team

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