New Delhi | Jagran Business Desk: Gold and silver prices in India saw gains On Monday supported by strong global trends and rupee depreciation. In today's trade the yellow metal Rs 103 to Rs 51,286 per 10 gram in the national capital. The precious metal had closed at Rs 51,183 per 10 gram in the previous session. Silver gained Rs 793 to Rs 62,155 per kilogram, from Rs 61,362 per kilogram in the previous trade. The Indian rupee depreciated 32 paise to settle at 74.42 (provisional) against the US dollar on Monday tracking strong American currency amid global risk aversion.

In the international market, the yellow metal traded green at USD 1,885 per ounce and silver was flat at USD 23.83 per ounce. Gold prices traded up despite stronger dollar amid uncertainty over US presidential elections and fear of more lockdown measures in Europe. 

Meanwhile, India Gold December Futures rose on Monday as speculators created fresh positions on firm spot demand. Silver prices rose more than 1 percent after closing in the red in the week gone by. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 56, or 0.11 percent, at Rs 50,755 per 10 gram in a business turnover of 13,124 lots. Gold prices traded 0.33 percent higher at USD 1,886.10 per ounce in New York. Uncertainty over US Presidential elections also pushed pressure on the precious metal prices and investors moved towards safe-haven buying in the dollar, suggest experts. The yellow metal may remain directionless ahead of the outcome of the US presidential election however general bias may be on the upside amid expectations of additional stimulus.

Posted By: Rakesh Kumar Jha