Gold Price Today: Gold prices rose marginally on Wednesday. On the other hand, silver declined. According to the website of IBJA, gold rose by Rs 6 to Rs 51,457 per ten grams in morning trade on April 6. At the same time, silver fell by Rs 643 to Rs 65,825 per kg in morning trade. On Tuesday, gold was at Rs 51,451 per 10 grams. Silver also settled at Rs 66,468 per kg.
The rupee had opened lower by 29 paise at 75.58 against the dollar in the previous session.
The rupee had lost 29 paise to close at 75.58 in early trade on Wednesday due to the strengthening of the US dollar in overseas markets and negative trend in the domestic stock market. Forex traders said a rise in the dollar index and expectations of a rate hike by the US Federal Reserve to contain inflation were the main reasons for the rupee’s rise.
On Tuesday, gold fell by Rs 159 to Rs 51,373 per 10 grams in the Delhi bullion market. HDFC Securities gave this information. Consequently, gold closed at Rs 51,532 per 10 grams in the previous session. Similarly, silver fell by Rs 149 to close at Rs 66,485 per kg. Silver had closed at Rs 66,634 per kg in the previous session. The rupee on Monday gained 24 paise to close at 75.29 against the dollar in the interbank foreign exchange market.
HDFC Securities Research Analyst (Commodities) Tapan Patel said 24-carat spot gold fell by Rs 159 per 10 grams on the New York-based commodity exchange COMEX. Due to the fall in gold prices and the strengthening of the rupee. The New York-based commodity exchange was trading at 1,926 per ounce on Comex.