Gold prices on Thursday rose by Rs 111 to Rs 42,492 per 10 gram in the national capital on weak rupee, according to HDFC Securities. The yellow metal had closed at Rs 42,381 per 10 gram in the previous trading session.
However, silver prices fell Rs 67 to Rs 48,599 per kg from Rs 48,666 per kg on Wednesday. "Spot gold for 24 karat in Delhi continued upside, gaining Rs 111 on weaker rupee catching overnight gains in dollar index. The spot rupee was trading around 5 paise weaker against the dollar after falling 23 paise in the opening trade," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Besides, strong demand due to wedding season pushed gold spot prices higher, he added. In the international market, both gold and silver were trading lower at USD 1,609.60 per ounce and USD 18.26 per ounce, respectively.
On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 28, or 0.07 per cent, to Rs 41,558 per 10 gram in a business turnover of 3,339 lots. The yellow metal for June delivery declined by Rs 73, or 0.17 per cent, to Rs 41,705 per 10 gram in 144 lots. Analysts said subdued overseas cues influenced sentiments here. Globally, gold was trading 0.12 per cent lower at USD 1,609.80 per ounce in New York.
