On Monday, gold prices rose by Rs 310 to Rs 46,580 per ten grams in the local bullion market due to the improvement in the prices of precious metals in the global market and the fall in the value of the rupee. HDFC Securities has given this information. In the previous day’s trade, gold had closed at the rate of Rs 46,270 per ten grams.
Silver also gained Rs 580 to Rs 67,429 per kg. It closed at Rs 66,849 in the previous trading session.
During the initial trading in the Interbank Foreign Exchange Exchange, the rupee had lost 24 paise to Rs 74.33 per dollar. In the international market, gold gained with gains to $ 1,777 an ounce, while silver was quoted at $ 26.06 an ounce with a slight gain.
“The spot price in the New York-based commodity exchange COMEX strengthened, leading to a rise in gold here. Gold price at COMEX rose to $ 1,777 an ounce,” said Tapan Patel, senior analyst (commodities) at HDFC Securities. He said that bullion prices improved due to the weakening of the dollar.
Futures prices also rise
Due to strong spot demand, speculators bought fresh deals, due to which gold prices rose by Rs 424 to Rs 47,161 per 10 grams in the local futures market on Monday. At the Multi Commodity Exchange, for the delivery in the month of June, the price of gold rose by Rs 424, ie 0.91 per cent to Rs 47,161 per 10 grams. It traded for 10,558 lots.
On the other hand, due to strong spot demand in silver, traders increased their deals, due to which the price of silver rose by Rs 762 to Rs 69,128 per kg in futures trade on Monday. At the Multi Commodity Exchange, the futures contract for July delivery of silver rose by Rs 762, or 1.11 per cent, to Rs 69,128 per kg. In this futures contract, deals were done for 8,778 lots. Globally, silver rose 1.11 percent to USD 26.16 an ounce in New York.
(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)