Bullion shines on Re fall
Gold in the national capital on Monday rose by Rs 82 to Rs 45,952 per 10 gram in line with the firm global trends and rupee depreciation.
image for illustrative purpose
New Delhi: Gold in the national capital on Monday rose by Rs 82 to Rs 45,952 per 10 gram in line with the firm global trends and rupee depreciation.
In the previous trade, the precious metal had closed at Rs 45,870 per 10 gram. "Spot gold prices for 24 carat in Delhi rose by Rs 82 in line with firm COMEX gold prices and rupee depreciation.
Gold prices kept a higher trading range, halting the previous decline despite a stronger dollar," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. In contrast, silver tumbled Rs 413 to Rs 61,907 per kilogram from Rs 62,320 per kilogram in the previous trade. The Indian rupee depreciated 18 paise to 73.68 against the US dollar in opening trade on Monday. In the international market, gold was trading with gains at $1,790 per ounce and silver was flat at $23.66 per ounce.
Gold futures rose by Rs 34 to Rs 46,840 per 10 gram on MCX as speculators created fresh positions amid firming spot demand. Silver futures dropped Rs 359 to Rs 63,233 per kg, as participants reduced their bets on low demand. On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 34, or 0.07 per cent, to Rs 46,840 per 10 gram in a business turnover of 9,915 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. However, gold prices traded 0.03 per cent lower at $1,791.50 per ounce in New York.
