Gold rises by Rs 161, silver jumps Rs 800

Gold Wealth Price

New Delhi, Aug 31 : Gold prices rose by Rs 161 to Rs 52,638 per 10 gram in the national capital on Monday amid rupee depreciation, according to HDFC Securities.

The precious metal had closed at Rs 52,477 per 10 gram in the previous trade.

Silver prices also gained Rs 800 to Rs 68,095 per kg from its previous close of Rs 67,295 per kg.

“Spot gold prices for 24 carat in Delhi were trading higher by Rs 161 amid rupee depreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee pared its early gains and settled 21 paise lower at 73.60 (provisional) against the US dollar on Monday, tracking muted domestic equities and a rebound in the American currency.

In the international market, gold was quoting lower at USD 1,960 per ounce, while silver was trading marginally higher at USD 27.80 per ounce.

“Domestic prices were higher in Monday afternoon trade tracking weakness in the domestic unit and safe-haven appeal for the metals,” Sriram Iyer, Senior Research Analyst, Reliance Securities, said.

Meanwhile, in the domestic equity market, the 30-share BSE benchmark Sensex closed 839.02 pts lower at 38,628.29.

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