On Thursday, the price of gold experienced a fall of 101 rupees to reach 51,024 rupees per 10 grams. This was against a backdrop of unfavorable global trends and appreciation of the rupee, as reported by Securities. In a previous session, the precious metal had ended the day at Rs 51,125 per 10 grams.
Furthermore, the price of silver also saw a reduction from Rs 334 to Rs 58,323 per kilogram. The rupee gained 67 pices to reach an exchange rate of 82.14 against the US dollar during early transactions on Thursday, as the dollar retreated from its highest levels.
On the international scene, gold was traded at lower values, quoted at US$1,664 per ounce, while silver reached US$19.41 per ounce.
Dilip Parmar, analyst at HDFC Securities, explained: “The strengthening of the rupee and weakness in gold prices on the COMEX contributed to the fall in domestic gold prices today.”
