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Gold rises Rs 239 on global cues, rupee depreciation

Prime News, National and International, Business, New Delhi, February 18:- Gold prices on Tuesday rose by Rs 239 to Rs 41,865 per 10 gram in the national capital on positive global cues and rupee depreciation, according to HDFC Securities.

The yellow metal had closed at Rs 41,626 per 10 gram in the previous session.

Silver prices also jumped Rs 296 to Rs 47,584 per kg from Rs 47,288 per kg on Monday.

“Spot gold for 24 karat in Delhi traded higher by Rs 239 with strong international prices and rupee depreciation. The spot rupee was trading around 23 paise weaker against the dollar for the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The Indian rupee declined by 10 paise to Rs 71.42 against the US dollar in opening trade.

The warning by Apple Inc to miss its revenue forecast in March quarter also spurred safe haven buying in gold, Patel added.

In the international market, both gold and silver were trading higher at USD 1,588 per ounce and USD 17.88 per ounce, respectively. (Inputs: Agencies, NGB)

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