Commodities
Gold Surges Rs 500 on Weaker Rupee, Firm Global Trend
New Delhi, Oct 1: Gold prices rose for the second consecutive day, reaching Rs 1,49,800 per 10 grams in the national capital. The increase is due to a weaker rupee and a firm global trend.
The yellow metal of 99.9% purity had closed at Rs 1,49,300 per 10 grams in the preceding session. This means gold has gained Rs 500 since then.
Silver prices, however, declined by Rs 5,000 to Rs 2.27 lakh per kilogram from Wednesday's closing level of Rs 2.32 lakh per kg.
The rupee's slide below the 96-per-dollar mark has provided some support to domestic gold prices. The Indian currency closed at 96.31 against the greenback on Thursday, its weakest level in over two months.