Gold & Silver

Gold slides Rs 32 to Rs 38,542 on stronger rupee, global cues

PTI New Delhi | Updated on December 09, 2019 Published on December 09, 2019

Gold prices fell by Rs 32 to Rs 38,542 per 10 gram in the national capital on Monday due to rupee appreciation and selling in global market, according to HDFC Securities.

On Saturday, the precious metal had closed at Rs 38,574 per 10 gram.

“Spot gold for 24 Karat gold in Delhi was trading marginally lower by Rs 32 on stronger rupee and overnight fall in gold prices. The spot rupee was trading around 7 paise stronger against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

However, silver prices rose Rs 46 to Rs 44,691 a kg from Rs 44,645 a kg in the previous trade. In the global market, gold was trading at $ 1,462 per ounce, while silver was quoting at $ 16.60 per ounce.

“Gold prices witnessed selling on risk on sentiments after the US government data showed better than expected job creation and fall in unemployment rate. The positive optimism over the US-China trade deal also pressured gold prices to trade lower,” Patel said.

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Published on December 09, 2019
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