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Gold and Silver Prices Flat in Delhi Amid Subdued Demand
Gold and silver prices in New Delhi stayed the same on Monday, October 5.
Gold cost Rs 1,49,800 for 10 grams, including taxes.
Silver cost Rs 2,27,000 for one kilogram.
Traders said jewellers and retailers were not buying much, so local prices changed very little.
In other markets around the world, gold rose a little and silver rose more.
A stronger US dollar made it harder for precious-metal prices to rise further.
One analyst said future gold prices may find support from festive-season buying and central bank demand.
He also said that clearer information about US inflation could affect gold's direction.
Gold and silver prices were unchanged in New Delhi on Monday, October 5.
Gold of 99.9 per cent purity was quoted at Rs 1,49,800 per 10 grams, including taxes.
Silver remained at Rs 2,27,000 per kilogram.
Traders said subdued demand from jewellers and retailers kept domestic prices in a narrow range.
Overseas, spot gold edged higher while silver rose more than 2 per cent; a stronger US dollar limited gains.
- Who
- Gold and silver traders in New Delhi, with market commentary from analysts at HDFC Securities, Mirae Asset Sharekhan and Monarch PMS.
- What
- Domestic gold and silver prices remained unchanged amid subdued demand.
- Where
- New Delhi, India; global market prices were also reported.
- When
- Monday, October 5; the year was not specified.
- Why
- Subdued buying by jewellers and retailers kept local prices in a narrow range; a stronger US dollar capped gains in precious metals.
Key facts
- Gold price
- Rs 1,49,800 per 10 grams for 99.9 per cent purity, including taxes
- Silver price
- Rs 2,27,000 per kilogram
- Domestic price movement
- Both metals remained unchanged in New Delhi
- Spot gold
- About USD 4,156.62 per ounce, marginally higher
- Spot silver
- USD 61.70 per ounce, up more than 2 per cent
- US dollar index
- Rose above 102.50, its highest level since April 10, according to the report
- Demand outlook mentioned
- An analyst cited potential festive-season physical demand in October and November and central bank demand
Quotes
Saumil Gandhi
Senior Analyst of Commodities at HDFC Securities
“Gold prices remained steady in the domestic market, tracking a firm trend in overseas markets.”
theprint.in
“Spot gold gained marginally at USD 4,157 per ounce as crude oil prices have eased slightly.”
theprint.in
Sources
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