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Gold price today at Rs 52,740 per 10 gm, silver falls to Rs 57,000 a kg

Fri Sep 25 2020

 

Gold prices today fell to Rs 52,740 from Rs 53,460 per 10 gm, while silver was trending at Rs 57,000 per kg, according to the Good Returns website.

 

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

 

In New Delhi, the price of 22-carat gold remained at Rs 48,350 per 10 gm, and in Chennai, it fell to Rs 47,550. In Mumbai, the rate was Rs 48,400, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 51,870 per 10 gm.

 

On the MCX, October gold futures jumped 0.80 per cent to Rs 49,904 per 10 gm, while silver December futures were at Rs 59,629 per kg.

 

Gold price fell for the fourth consecutive day on Thursday, declining by Rs 485 to Rs 50,418 per 10 grams in the national capital amid weak international trends, according to HDFC Securities.

 

In the previous trade, the precious metal closed at Rs 50,903 per 10 grams. Silver also tumbled by Rs 2,081 to Rs 58,099 per kilogram from Rs 60,180 per kilogram in the previous trade.

 

"Spot gold prices for 24 carat in Delhi extended decline for the fourth consecutive day falling Rs 485...," HDFC Securities Senior Analyst (Commodities) Tapan Patel said, adding that it reflected selling of the precious metal in the international market.

 

In the international market, gold traded with losses at USD 1,854 per ounce and silver was flat at USD 22.12 per ounce.

 

Gold prices continued on the downside as stronger dollar weigh on prices amid slowdown in general economic activities in Europe due to rising virus infections, Patel said.

 

Source: https://www.business-standard.com

 

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