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Gold falls ₹80, silver prices decline by ₹734

Tue Mar 17 2020


Gold on Tuesday went lower by ₹80 to ₹39,719 per 10 gram in the national capital following weak global cues and rupee appreciation, according to HDFC Securities.


“Spot gold for 24 Karat in Delhi were trading lower by ₹80 with weak global cues and rupee appreciation. The spot rupee was trading around 17 paise stronger against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.


The precious metal had closed at ₹39,799 per 10 gram in the previous trade. Silver prices also declined by ₹734 to ₹35,948 per kg against Monday’s close of ₹36,682 per kg. Gold prices witnessed selling as investors rushed to lock-in profits to cover the losses in equity segment, he added.


In the international market, gold prices traded lower at USD 1,483 per ounce and silver at USD 12.53 per ounce.


Source: Hindu business line.