Gold rises Rs 258, silver gains Rs 837
Gold prices on Monday rose Rs 258 to Rs 51,877 per 10 grams in the national capital supported by rupee depreciation, according to HDFC Securities. The precious metal had closed at Rs 51,619 per 10 grams in the previous trade. Silver also gained Rs 837 to Rs 69,448 per kg, from Rs 68,611 per kg in the previous trade.
The rupee depreciated 21 paise to 73.35 (provisional) against the US dollar on Monday.
In the international market, gold and silver both were trading flat at USD 1,932 per ounce and USD 26.93 per ounce, respectively.
"Gold prices held narrow trading range on Monday in the absence of US markets," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said, "Gold in today's (Monday) Asian session has been trading on a flat note and volatility remained low as US markets remained shut on account of the Labour Day holiday.
