Gold prices decline by Rs 252, silver rises

By: |
August 28, 2020 5:53 PM

The rupee strengthened 43 paise to end at 73.39 (provisional) against the US dollar on Friday supported by persistent foreign fund inflows and weak American currency.

In the previous trade, the precious metal had closed at Rs 52,407 per 10 grams.In the previous trade, the precious metal had closed at Rs 52,407 per 10 grams.

Gold prices slipped by Rs 252 to Rs 52,155 per 10 grams in the national capital on Friday amid a stronger rupee, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 52,407 per 10 grams.

Silver prices, however, rose by Rs 462 to Rs 68,492 per kg as compared to the previous close of Rs 68,030 per kg.

“Spot gold prices for 24 carat in Delhi were lower by Rs 252 despite the recovery in international prices as stronger rupee capped the upside for the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee strengthened 43 paise to end at 73.39 (provisional) against the US dollar on Friday supported by persistent foreign fund inflows and weak American currency.

In the international market, gold depicted a strong trend and was trading with gains at USD 1,949 per ounce and silver at USD 27.33 per ounce.

“Gold prices witnessed recovery on Friday on economic growth concerns,” Patel said.

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