The rupee's weakness against the dollar pushed gold to close above Rs 46,000

The local gold and silver market saw an improvement in the prices of both the precious metals. Rising dollar also pushed up the price of gold and silver. In the US, declining crude oil continues to improve. The dollar index weakened in world markets as unemployment continued to rise. However the homeowner saw an improvement in the dollar.                                                                  

In the domestic market, gold 99.50 per ten grams excluding GST, which closed at Rs 45,710 yesterday, rose to Rs 46,136 today, while 99.90 gold rose by Rs 45,894 to close at Rs 46,322. Prices with GST were quoted three per cent higher. Along with gold, .999 silver also saw an improvement. Silver, which was trading at Rs 42,915 per kg yesterday, closed at Rs 42,985 without GST today. Prices with GST remained three per cent higher.

World gold prices rose from 170 1,709 an ounce to 17 1,715 an ounce in late evening trade, while silver remained steady at 15 15.56 an ounce.

Platinum was quoted at 76 764.50 an ounce of 768.50 while palladium was quoted at 1888 an ounce of 1840. The dollar index has come under pressure with a new addition of 29.80 lakh to unemployment claims in the US.

The fall in the domestic stock market had an impact on the rupee. The dollar had closed at Rs 75.56 against Rs 75.61. It closed 10 paise higher than yesterday. The pound was down 39 paise at Rs 92.22 while the euro was down 17 paise at Rs 81.63.

US crude oil stocks were expected to rise but fell by 7.45 lakh barrels, which has had an impact on crude oil prices. The stock was expected to rise 41 barrels. Stocks fell to 53.15 million barrels. In addition to falling stocks, New York crude rose to જ્યારે 25.95 a barrel and Brent traded at. 29.80.