Gold rises Rs 111; silver declines Rs 1,266

The precious metal had closed at Rs 50,632 per 10 gram in the previous trade. Silver, however, declined Rs 1,266 to Rs 60,669 per kg as against Rs 61,935 per kg in the previous trade.

Published: 04th November 2020 05:05 PM  |   Last Updated: 04th November 2020 05:05 PM   |  A+A A-

gold, jewellery, ornaments

For representational purposes. (Photo | EPS)

By PTI

NEW DELHI: Gold prices on Wednesday rose Rs 111 to Rs 50,743 per 10 gram amid sharp rupee depreciation, according to HDFC Securities.

The precious metal had closed at Rs 50,632 per 10 gram in the previous trade. Silver, however, declined Rs 1,266 to Rs 60,669 per kg as against Rs 61,935 per kg in the previous trade.

The rupee depreciated 35 paise to close at 74.76 (provisional) against the US dollar on Wednesday, tracking strong American currency ahead of the US presidential election results.

In the international market, gold was trading lower at USD 1,895 per ounce and silver also dipped and was quoting at USD 23. 60 per ounce.Gold prices witnessed selling on stronger dollar on uncertainty over US presidential elections outcome, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Speculation ahead of final outcome of US elections may keep prices volatile during the day, he added.

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