Gold eases marginally; silver gains Rs. 73
New Delhi: Gold in the national capital on Tuesday fell marginally by Rs36 to Rs45,888 per 10 grams in line with decline in international precious metal prices and rupee appreciation. In the previous trade, the precious metal had closed at Rs45,924 per 10 grams. Silver, however, gained Rs 73 to Rs 61,911 per kg, from Rs 61,838 per kg in the previous trade.
"Spot gold prices for 24 carat in Delhi fell by Rs 36 in line with fall in COMEX (New York-based commodity market) gold prices and rupee appreciation," according to HDFC Securities Senior Analyst (Commodities) Tapan Patel. The Indian rupee appreciated 7 paise to 73.61 against the US dollar in opening trade on Tuesday. In the international market, gold was trading lower at $1,788 per ounce and silver was flat at $23.68 per ounce.
Gold futures fell by Rs 88 to Rs 47,005 per 10 grams on MCX as speculators reduced their positions amid low demand. Globally, gold traded 0.13 per cent lower to $1,792 an ounce in New York. Silver futures too dropped Rs59 to Rs63,240 per kg, as participants reduced their bets on low demand. On MCX, silver contracts for the December delivery tumbled by Rs59, or 0.09 per cent, to Rs 63,240 per kg in a business turnover of 11,299 lots. The metal traded lower by 0.30 per cent at $23.73 per ounce in New York.