Gold and silver prices surge due to weak rupee, know today's rate

Oct 15 2019 08:22 AM
Gold and silver prices surge due to weak rupee, know today's rate

New Delhi: Gold and silver prices have seen an increase on Monday due to the weakness in the rupee against the US currency dollar. In the Delhi bullion market, gold has gained Rs 145 to Rs 38,885 per 10 grams. At the same time, silver also rose by Rs 240 to Rs 46,510 per kg due to pick up in demand from industrial units.

Earlier, silver had closed at Rs 46,270 per kg on Saturday. Silver prices have seen an increase due to buying by industrial units and coin traders. HDFC Securities Senior Analyst (Commodity) Tapan Patel has stated that the 24-carat purity gold in Delhi rose by Rs 145 due to the weakness in the Indian currency rupee and increased demand during the festive season.

He said that the rise in the price has been observed due to the weakening of the rupee to dollar ratio. He said that this boom in gold has also been seen due to the rise in demand due to the festive season. In New York, gold was at $ 1,490 an ounce, while silver was at $ 17.57 an ounce. In the previous trading session, gold was trading at Rs 38,740 per 10 grams.

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