Gold, silver prices fall as Re surges
Gold in the national capital on Monday declined Rs54 to Rs46,448 per 10 grams in line with weak international precious metal prices along with rupee appreciation.
image for illustrative purpose
New Delhi: Gold in the national capital on Monday declined Rs54 to Rs46,448 per 10 grams in line with weak international precious metal prices along with rupee appreciation. The precious metal settled at Rs46,502 per 10 grams in the previous trade. Silver also dipped by Rs178 to Rs59,217 per kg, from Rs59,395 per kg in the previous trade.
The rupee surged 31 paise to close at 74.03 (provisional) against the US dollar on Monday. It appreciated by 18 paise to 74.16 against the US dollar in the opening trade. In the international market, gold was trading lower at $1,794 per ounce and silver was flat at $22.28 per ounce. "Gold prices traded down with spot gold prices at COMEX trading at $1,794 per ounce on Monday. Gold prices traded under pressure on firm dollar and strong US bond yields," said Tapan Patel, senior analyst (commodities), HDFC Securities.
Gold futures fell Rs 100 to Rs47,352 per 10 grams in the futures trade as speculators reduced their positions amid low demand. On the Multi Commodity Exchange (MCX), gold contracts for February traded lower by Rs100, or 0.21 per cent, to Rs47,352 per 10 grams in a business turnover of 7,878 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold traded 0.2 per cent higher at $1,793.80 an ounce in New York.
Silver futures eased by Rs 142 to Rs 60,465 per kg as participants reduced their bets on low demand. Silver contracts for the March delivery declined Rs 142, or 0.23 per cent, to Rs 60,465 per kg in a business turnover of 17,409 lots. The metal traded lower by 0.29 per cent at $22.35 per ounce in New York.
Brent crude futures trading higher at $82.17/bbl
New Delhi: Crude oil prices on Monday rose Rs12 to Rs5,838 per barrel as participants widened their positions on a firm spot demand. Globally, West Texas Intermediate crude oil was trading 0.10 per cent higher at $78.98 per barrel, while Brent crude futures, the global oil benchmark, was trading 0.51 per cent higher at $82.17 per barrel in New York.
