New Delhi | Jagran Business Desk: Gold prices went down by Rs 137 to Rs 53,030 per 10 gram in the national capital on Wednesday amid increase in demand for Indian currency, according to HDFC Securities. Silver also dropped by Rs 517 to Rs 70,553 per kg. On Tuesday, the yellow metal had closed at Rs 53,167 per 10 gram after an increase of Rs 422 whereas silver prices also jumped Rs 1,013 to Rs 70,743 per kilogram.

"Spot gold prices for 24 karat in Delhi were down by Rs 137 on rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel told PTI. With the support of positive domestic equities and weak American currency, the Indian rupee strengthened by 12 paise and settled at 73.52 (provisional) against the US dollar on Wednesday.

In the global market, the yellow market was trading with gains at USD 1,967.7 per ounce and silver was flat at USD 27.40 per ounce.

"Gold prices (globally) fluctuated in the upper range ahead of key Federal Open Market Committee meeting," the news agency quoted Patel as saying.

Meanwhile, in Wednesday's future trade, the price of yellow metal rose by Rs 153 to Rs 51,922 per 10 gram as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange, gold contracts for the October delivery traded higher by Rs 153, or 0.3 percent, at Rs 51,922 per 10 gram in a business turnover of 10,814 lots.

(with PTI inputs)


Posted By: Rakesh Kumar Jha