Ahead of Dhanteras and Diwali, gold prices have started gaining their lost sheen. The gold rates in the national capital increased by Rs 37 to Rs 52,300 per 10 grams and the prices are likely to go up as the Indian rupee continues to depreciate against the US dollar, said experts. In the previous trade, the precious metal had touched Rs 52,263 per 10 grams.
Silver prices also increased by Rs 311 to Rs 62,022 per kg from Rs 61,711 per kg a day earlier.
In Bengaluru, standard gold of 99.5 purity stood at Rs 53,400 per 10 grams while the gold ornament price was Rs 4913 per gram. In Mumbai, standard gold of 99.5 per cent purity was priced at Rs 51,588 while pure gold of 99.9 per cent purity stood at Rs 51,765.
In futures trade, Gold prices increased by Rs 29 to Rs 52,001 per 10 grams yesterday as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 29 or 0.06 per cent at Rs 52,001 per 10 grams in a business turnover of 19,054 lots. Globally, gold was trading 0.20 per cent lower at USD 1,717.40 per ounce in New York.
The rupee depreciated 16 paise to an all-time low of 82.33 against the US dollar in early trade yesterday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.
(With PTI inputs)