Gold prices fall Rs 74 on stronger rupee

September 12, 2019

Mumbai-India (Sept 12)  Gold prices on Thursday fell Rs 74 to Rs 38,775 per 10 gram at the bullion market here on a stronger rupee against the dollar, according to HDFC Securities. Prices of silver witnessed a marginal fall, slipping Rs 10 to Rs 48,590 per kilogram in the national capital.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said spot gold prices for 24 Karat (99.9 per cent purity) in Delhi was trading down at Rs 38,775 per 10 gram on broad selling and a stronger rupee against the dollar. In early trade on Thursday, the domestic currency appreciated 36 paise to 71.30 against the US dollar.

“Gold buyers are awaiting some correction in prices before festival and wedding season demand kicks in,” Patel added. In the international market, gold prices were trading in the green at USD 1,490 an ounce in New York and silver was also up at USD 18.10 per ounce.

On Wednesday, gold prices in the national capital closed at Rs 38,849 per 10 gram and silver at Rs 48,600 per kilogram.

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