Gold Price Update on Sept 29: Yellow metal price jumps to Rs 51,367 per 10 gram

04:59 PM Sep 29, 2020 | PTI

Gold prices rallied Rs 663 to Rs 51,367 per 10 gram in the national capital on Tuesday, in line with the rise in international prices and rupee depreciation, according to HDFC Securities.

The precious metal had closed at Rs 50,704 per 10 gram in the previous trade.


Silver prices also jumped Rs 1,321 to Rs 61,919 per kilogram from Rs 60,598 per kilogram on Monday.


"Spot gold prices for 24 carats in Delhi rallied Rs 663, reflecting gains in international prices and rupee depreciation," HDFC Securities Senior Analyst(Commodities) Tapan Patel said.

The rupee depreciated 7 paise to settle at 73.86 (provisional) against the US dollar on Tuesday.

In the international market, gold was quoting with gains at USD 1,882 per ounce, while silver was trading flat at USD 23.56 per ounce.

Gold prices traded higher ahead of the US presidential election debate, Patel added.

Navneet Damani, VP - Commodities Research, Motilal Oswal Financial Services said, "Gold prices edged higher, erasing early losses as the dollar retreated from a two-month peak ahead of the US presidential debates scheduled later today and progress on the new coronavirus relief bill, although a stock market rebound capped gains in bullion."

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