, Gold price in the national capital fell Rs 141 to Rs 51,747 per 10 grams on Wednesday amid rupee appreciation, according to Securities. In the previous trade, the yellow metal had settled at Rs 51,888 per 10 grams.
Silver, however, climbed Rs 132 to Rs 62,400 per kilogram.
The rupee appreciated 50 paise to 81.42 against the US dollar in early trade on Wednesday on broad dollar weakness and improving global risk sentiments.
“Gold price inched higher hovering near their one-month high, trading above the psychological USD 1,680 mark. Dollar index slipped to its one and half month lows, falling below 110 level; while the US 10Y yield was down by 2 per cent in the yesterday’s session supporting the move in gold and silver prices,” Navneet Damani, Senior VP – Commodity Research at
, said.
In the international market, gold was trading higher at USD 1,713 per ounce while silver was down at USD 21.25 per ounce.
“Comex Gold prices jumped to a one-month high today, benefiting from resurgent safe haven demand and a weakening dollar as investors awaited the results of the US midterm elections, with broader metal prices also gaining,” said Vinay Rajani, Research Analyst at HDFC Securities.