Business News

Gold falls Rs 105 on stronger rupee, weak cues

New Delhi, Oct 17: Gold prices on Thursday declined Rs 105 to Rs 38,985 per 10 gram in the national capital on a stronger rupee and weak global cues, according to HDFC Securities.

However, silver surged by Rs 509 to Rs 46,809 per kg here from its previous close of Rs 46,300 per kg.

On Wednesday, gold closed at Rs 39,090 per 10 gram.

“International gold prices traded weak on Brexit hopes and the US-China trade deal optimism,” HDFC Securities Senior Analyst – Commodities Tapan Patel said.

Gold was trading lower at USD 1,488 an ounce in the international market, while silver quoted higher at USD 17.45 per ounce.

The Indian rupee was trading 18 paise stronger against dollar during the day and weighed on gold prices, he added.

PTI

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