Gold rises ₹258, silver gains ₹837

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Silver also gained ₹837 to ₹69,448 per kg, from ₹68,611 per kg in the previous trade

Gold prices on Monday rose ₹258 to ₹51,877 per 10 grams in the national capital supported by rupee depreciation, according to HDFC Securities.

The precious metal had closed at ₹51,619 per 10 grams in the previous trade.

Silver also gained ₹837 to ₹69,448 per kg, from ₹68,611 per kg in the previous trade.

The rupee depreciated 21 paise to 73.35 (provisional) against the U.S. dollar on Monday.

In the international market, gold and silver both were trading flat at $1,932 per ounce and $26.93 per ounce, respectively.

“Gold prices held narrow trading range on Monday in the absence of U.S. 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 U.S. markets remained shut on account of the Labour Day holiday.”

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