gold and silver The price increased again today. Amid the strength in international markets, the price of gold rose by Rs 350 to Rs 67,350 per 10 grams in the bullion market of the national capital on Thursday. Gold prices continued to rise for the second consecutive day. In the last trading session, gold had closed at Rs 67,000 per 10 grams. Silver price also increased by Rs 200 and closed at Rs 77,450 per kg. In the previous trading session, it had closed at Rs 77,250 per kg.
There may be further price reduction
Saumil Gandhi, senior analyst at HDFC Securities, said that the spot price of gold (24 carat) in Delhi markets was trading at Rs 67,350 per 10 grams, which is an increase of Rs 350 from the previous closing price. In the commodity market, spot gold was trading at $ 2,194 an ounce, which is $ 14 stronger than the previous closing price. Jatin Trivedi, Vice President, Research Analysis Department, LKP Securities, said gold prices were trading higher amid positive sentiment regarding interest rates, but the rise in the dollar index may put pressure on it.
Rupee falls, dollar strengthens
Silver price was trading marginally higher at $24.55 an ounce. In last trading it closed at $ 24.50 an ounce. The rupee on Thursday declined by six paise to close at 83.39 (provisional) against the American currency in the interbank foreign exchange market due to rising crude oil prices in the international markets and strengthening of the dollar against key rival currencies. Market sources said a strong trend in domestic stock markets and increase in investment by foreign funds in recent times supported the rupee.
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