Summary of this article
Gold prices climb Rs 400 amid local demand surge
Silver prices remain unchanged despite global market movement
Weak rupee offsets decline in international gold prices
Gold prices rose by Rs 400 to Rs 1,63,200 per 10 grams in the national capital on Tuesday amid persistent buying by stockists and a weaker rupee, according to the local marketmen.
The precious metal of 99.9 per cent purity had closed at Rs 1,62,800 per 10 grams on Monday.
However, silver prices remained unchanged at Rs 2,72,000 per kilogram (inclusive of all taxes).
Traders said increased offtake by local jewellers and stockists supported gold prices in the domestic market, even as international precious metal rates declined.
In the international markets, spot gold was trading 1.35 per cent lower at USD 5,157.16 per ounce, while silver traded flat at USD 88.19 per ounce.
Analysts said weakness in the rupee made gold costlier for holders of other currencies, offsetting the impact of a decline in global prices.
