Gold prices in the national capital rose by Rs 80 to Rs 59,030 per 10 grams on Friday due to gains in overseas precious metal prices. The previous trade had seen the yellow metal settle at Rs 58,950 per 10 grams. However, silver tumbled by Rs 550 to Rs 70,700 per kilogram.
“Gold slightly recovered from three-month lows on Friday, with spot gold prices in the Delhi markets trading at Rs 59,030/10 grams, up by Rs 80 per 10 grams,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.
In the international markets, gold was trading higher at USD 1,906 per ounce while silver was down at USD 22.46 per ounce.
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Rupee closes flat at 82.03 against dollar
Meanwhile, the rupee closed flat at 82.03 against the US dollar in a restricted trade on Friday despite a rally in the domestic equities and firm crude oil prices.
Analysts attributed the flat performance of the rupee to a strong US dollar in global markets and gains in crude oil prices, which offset the positive impact of foreign institutional investor (FII) inflows into equities.
The rupee started weak at 82.05 at the interbank foreign exchange market due to firm crude oil prices in the Asian trade. It remained range-bound between 82.00 and 82.07 throughout the day and settled at 82.03 against the US dollar.
(With PTI inputs)
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
