Gold prices rose by Rs 210 to Rs 39,075 per ten grams in the national capital due to strong international cues and weakening rupee. According to HDFC Securities, silver fell by Rs 110 to Rs 46,490 per kg. Earlier, silver had closed at Rs 46,600 per kg on Thursday. At the same time, gold had closed at Rs 38,865 per ten grams.
HDFC Securities Senior Analyst Tapan Patel said, “Due to the weak rupee and strong international prices, the 24-carat gold price in Delhi has increased by Rs 210. The rupee weakened ten paise against the US dollar after the RBI reduced policy rates by 0.25 percent.
In the international market, gold rose to $ 1,508 an ounce and silver to $ 17.58 an ounce.
“In the US, the price of gold rose internationally due to concerns about the economy coming back on track due to non-manufacturing PMI data being lower than expected,” Patel said. Investments in gold are being considered safe due to concerns related to trade negotiations, weak economy figures and fears of tension in the US-EU trade case. ”