Gold and silver The price went up again today. Amid firming in international markets, gold rose by Rs 350 to Rs 67,350 per 10 grams at the national capital’s bullion market on Thursday. Gold prices continue to increase for the second consecutive day. Gold closed at Rs 67,000 per 10 grams in the last trading session. Silver also rose by Rs 200 to close at Rs 77,450 per kg. It had closed at Rs 77,250 per kg in the previous trading session.
Prices may drop further.
Spot gold (24 carat) was trading at Rs 67,350 per 10 grams in Delhi markets, up by Rs 350 from the previous close, said Somal Gandhi, senior analyst at HDFC Securities. Trading at $2,194 an ounce, $14 stronger than the previous close. Jatin Trivedi, vice-president, research analysis department, LKP Securities, said gold prices were trading higher amid positive interest rate sentiment, but a rise in the dollar index could put pressure on it.
Rupee falls, dollar strong
Silver was trading marginally higher at $24.55 an ounce. It closed at $24.50 an ounce in the last trade. The rupee closed six paise lower at 83.39 (provisional) against the US currency at the interbank foreign exchange market on Thursday due to higher crude oil prices in international markets and strengthening of the dollar against key rivals. Market sources said that a strong trend in domestic stock markets and increased investment by foreign funds supported the rupee in recent days.
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