Gold gains Rs76; silver tumbles Rs 710
Gold in the national capital on Thursday gained Rs76 to reach Rs50,027 per 10 grams, supported by rupee depreciation, according to HDFC Securities.
'Gold and Silver for medium to long term as investment'
New Delhi: Gold in the national capital on Thursday gained Rs76 to reach Rs50,027 per 10 grams, supported by rupee depreciation, according to HDFC Securities.
In the previous trade, the precious metal had finished at Rs 49,951 per 10 grams. In contrast, silver tumbled Rs 710 to Rs 60,224 per kg from Rs 60,934 per kg in the previous trade.
The rupee extended its losses and slumped 10 paise to close at a fresh record low of 77.72 (provisional) against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows.
In the international market, gold was trading lower at $1,812 per ounce while silver was flat at $21.33 per ounce. "Gold prices traded weak with spot gold prices at COMEX trading marginally down at $1,812 per ounce on Thursday.
Gold prices traded under pressure as traders and investors weighed on aggressive Fed despite weak equity indices," said Tapan Patel, senior analyst (commodities), HDFC Securities.
