Gold price climbs Rs 133 per 10 gm, silver price jumps Rs 238 per kg

Gold prices climbed by Rs 133 to Rs 41,292 per 10 gram in the national capital on Monday on the weaker rupee, PTI reported quoting HDFC Securities.

The yellow metal had closed at Rs 41,159 per 10 gram in the previous trade, the report said.

Likewise, silver prices also jumped Rs 238 to Rs 47,277 per kg from Rs 47,039 per kg in the previous trade.

“Spot gold for 24 Karat in Delhi was trading higher by Rs 133 with the weaker rupee. The spot rupee was trading around 11 paise weaker against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In opening trade on Monday, the rupee opened on a weak note and declined by 18 paise to 71.51 against the US dollar, tracking weak opening in domestic equities and strengthening of the American currency overseas.

In the international market, gold was trading with gains at USD 1,578 per ounce and silver was up at USD 18.15 per ounce. “Gold prices rallied on risk-off sentiments on worsening China coronavirus crisis,” the report said quoting Tapan Patel.

China’s health authorities on Sunday said coronavirus transmission ability is getting stronger as the death toll reached 80 and the number of infected rose to 2,744 confirmed cases, another PTI report said.

Meanwhile, the Gold February futures contract in India rose by 328 points on MCX exchange, closing at Rs 40322 levels, up 0.81% from the previous close.

Silver February futures contract in India was up by 1.23% up by 578 points, ending the day at Rs 46959.

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The gold and silver prices gained in Indian markets today, lifted by higher global rates.

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