- Silver also rose by Rs 558 to Rs 58,580 per kg.
- Rupee falls 83 paise to fall at all-time low of 80.88 per dollar
- Gold bounces back after dollar index slips below its 20-year high
Gold rate today: Gold prices on Thursday rose by Rs 442 to Rs 50,399 per 10 grams in the Delhi bullion market amid a rise in international precious metals and a fall in the rupee. HDFC Securities gave this information. In the previous trading session, the yellow metal had closed at Rs 49,957 per 10 grams. Like gold, silver also rose by Rs 558 to Rs 58,580 per kg. Silver had closed at Rs 58,022 per kg in the previous trading session.
Rapid growth in international market
The rupee fell 51 paise to its all-time low of 80.47 per dollar in early trade on Thursday at the interbank foreign exchange market. In the international market, gold was trading with gains at $ 1,677 an ounce. Silver was steady at $19.69 an ounce. HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold recovered its initial losses after the dollar index slipped below its 20-year high and was trading in gains.”
Futures price also up
Gold futures on Thursday rose by Rs 62 to Rs 49,505 per 10 grams as participants increased their positions amid strong spot demand. On the Multi Commodity Exchange, gold for October supply contract was trading higher by Rs 62, or 0.13 per cent, at Rs 49,505 per 10 grams. It had a business turnover of 7,699 lots. Market analysts said buying in fresh positions by participants led to the rise in gold futures prices. Globally, gold was trading 0.49 per cent higher at USD 1,667.50 an ounce in New York. Traders increased the size of their positions on strong spot demand.
Silver prices on Thursday rose by Rs 136 to Rs 57,434 per kg in the futures market. On the Multi Commodity Exchange, silver for delivery in December rose by Rs 136, or 0.24 per cent, to Rs 57,434 per kg. It had a turnover of 16,662 lots. Analysts said buying of fresh positions by participants, driven by a firm trend in the domestic market, mainly led to the rise in silver prices at futures trade. Globally, silver was trading 0.46 per cent lower at USD 19.39 an ounce in New York.