(Aditya Shaw, Intern Journalist): Today, the price of gold and silver was recorded in the domestic market. According to HDFC Securities, the price of gold rose by Rs 663 to Rs 51,367 per 10 grams on Tuesday on the rise in international prices and fall in the rupee. At the same time, the price of silver increased by Rs 1,321 to Rs 61,919 per kg.
In the international market, gold was at $ 1,882 an ounce, while silver was trading at $ 23.56 an ounce. Investors are awaiting a presidential debate between US President Donald Trump and Democratic candidate Joe Biden. Due to this, the price of gold remained under pressure. Along with this, economic data from China is also awaited.
The price was so high on Monday, even in the local bullion market on Monday, gold fell by Rs 194 to Rs 50,449 per ten grams. Silver also declined by Rs 933. After falling abroad, silver fell by Rs 933 to Rs 59,274 per kg. The rupee fell seven paise against the dollar. The rupee fell seven paise to close at 73.86 (provisional) on Tuesday. The rupee opened at 73.78 against the US dollar in the interbank foreign exchange market and finally closed at 73.86, trading in a narrow range, indicating a fall of seven paise over the previous closing price.
Meanwhile, the dollar index, showing the position of the US dollar against the six major currencies, fell 0.09 percent to 94.19. Gold has become costlier by 25 percent this year. Gold is used as a safe investment in times of political and financial uncertainty, this year it has become expensive by about 25 percent. Gold imports in India increased to $ 3.7 billion in August from $ 1.36 billion in the same month last year. India is the second-largest buyer of gold after China. Gold attracts 12.5 percent import duty and three percent GST on gold in India.
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