1 day ago
Gold, Silver Fall in Delhi as Rupee Strengthens
Gold prices fell a little in New Delhi on Monday.
Silver prices fell much more in the local market.
A stronger rupee helped make internationally priced metals less expensive in India.
Gold also became cheaper in global markets.
The US dollar and interest-rate concerns remained strong.
This reduced some demand for precious metals.
However, tensions in West Asia continued to support demand for gold and silver.
Lower oil prices also eased some worries about inflation.
Gold of 99.9 per cent purity fell Rs 200 to Rs 1,56,400 per 10 grams in New Delhi.
Silver dropped Rs 5,000 to Rs 2.42 lakh per kilogram, inclusive of all taxes.
The rupee rose 15 paise to 95.81 against the US dollar, while Indian stocks gained.
Spot gold declined 0.57 per cent globally to USD 4,353.48 per ounce, while spot silver was flat at USD 66.27.
Analysts cited firm yields and the dollar, subdued global cues, inflation concerns, and continuing West Asia tensions as competing influences.
- Who
- Gold and silver traders, analysts, and investors in India’s precious-metals market.
- What
- Gold fell Rs 200 per 10 grams and silver fell Rs 5,000 per kilogram in New Delhi.
- Where
- New Delhi, with global prices also reported in international markets.
- When
- Monday, September 21, after prices closed on Friday at the previous levels.
- Why
- Prices were pressured by a stronger rupee, subdued global trends, firm yields and the US dollar, while geopolitical tensions provided some support.
Key facts
- Gold price
- Rs 1,56,400 per 10 grams for 99.9 per cent purity
- Gold change
- Down Rs 200 from Rs 1,56,600
- Silver price
- Rs 2.42 lakh per kilogram, inclusive of all taxes
- Silver change
- Down Rs 5,000 from Rs 2.47 lakh
- Rupee
- Rose 15 paise to 95.81 against the US dollar
- Global spot gold
- Down USD 24.75, or 0.57 per cent, to USD 4,353.48 per ounce
- Global spot silver
- Flat at USD 66.27 per ounce
Sources
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