New Delhi | Jagran Business Desk: The decline in Gold prices continued on Monday as the yellow metal price slumped by Rs 24 to Rs 52,465 per 10 gram in the national capital amid appreciation in the value of rupee, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 52,489 per 10. Silver prices, however, witnessed a gain of Rs 222 and reached Rs 69,950 per kilogram on Thursday, according to HDFC securities.

"Spot gold prices for 24 carat in Delhi were marginally down by Rs 24 on rupee appreciation," PTI quoted HDFC Securities Senior Analyst (Commodities) Tapan Patel as saying. 


Tracking the muted domestic stocks, The rupee pared some of its early gains and settled 5 paise higher at 73.48 (provisional) against the US dollar on Monday.

"Gold prices witnessed range-bound trading on mixed global cues over weaker dollar and economic growth concerns over rising virus cases," Patel told the news agency.

The investors are awaiting fresh triggers from the upcoming US Federal Open Market Committee meet.

Meanwhile in the future trade, Gold prices rose Rs 151 to Rs 51,470 per 10 gram on Monday as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 151, or 0.29 per cent, at Rs 51,470 per 10 gram in a business turnover of 11,745 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said.

(with PTI Inputs)

 

Posted By: Rakesh Kumar Jha