Gold rises Rs 300; silver falls Rs 1,000

New Delhi: Gold prices rose Rs300 to Rs 1,29,700 per 10 grams in the national capital on Monday amid firm trends in overseas markets, according to marketmen. The precious metal of 99.5 per cent purity also advanced by Rs 300 to Rs 1,29,100, inclusive of all taxes.

However, silver prices declined Rs 1,000 to Rs 1,63,800 per kilogram. In the international markets, spot gold was trading flat at $4,077.35 per ounce while spot silver was quoting 0.66 per cent higher at $50.89 an ounce.

“Spot gold is currently trading steady as a firmer dollar caps the upside while Sino-Japan tension over the latter’s remarks over Taiwan cushion the downside,” Praveen Singh, Head of Commodities, Mirae Asset ShareKhan, said. Renisha Chainani, Head - Research at Augmont, said, “Last week’s larger market sell-off, which was triggered by hawkish comments from US Federal Reserve officials that dampened expectations for a December interest rate cut, caused gold prices to drop 2.5 per cent and silver prices to drop 5.5 per cent.”