New Delhi: In the last trading session of this week, gold fell by Rs 252. According to HDFC Securities, the gold price in the national capital on Friday stood at Rs 52,155 per 10 grams. In the previous session, the closing price of gold was at Rs 52,407 per 10 grams. There was a decrease in the price of gold amid the rise in the value of the rupee against the US dollar. On Friday, the rupee rose by 43 paise to reach 73.39 per dollar in the currency market due to continued investment by foreign investors and the weakening of the US dollar.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Despite the recovery in the gold rate internationally due to the strengthening of the rupee, the prices of 24-carat gold fell to Rs 252 in Delhi. ”
Silver prices surged by Rs 462 due to increased demand amid falling gold prices. According to HDFC Securities, the silver price reached Rs 68,492 per kg in the last trading session of the week. In the previous session, silver was priced at 68,030 per kg.
Gold, silver prices in international market
According to Patel, there was a rise in gold prices globally amid concerns related to economic growth. Internationally, gold was trending at $ 1,949 an ounce. Similarly, silver was trading at $ 27.33 an ounce.
Gold rate in the futures market
On the Multi Commodity Exchange, gold for delivery in October was up by Rs 268, or 0.53 per cent, to Rs 51,170 per ten grams. It traded for 15,624 lots. Analysts said the yellow metal prices rose sharply due to increased participants’ deals.
Silver Price in Futures Trading
In view of the strong demand in the spot market, silver prices in futures trading rose sharply on Friday due to increasing participants’ deals. Silver for delivery in September on the Multi Commodity Exchange rose by Rs 617, or 0.95 per cent, to Rs 65,807 per kg. It traded for 6,915 lots.