Rupee falls 9 paise at 73.06 against USD, gold declines Rs 259

Mumbai, Jun 10 (PTI): Extending losses for the third straight session, the rupee on Thursday fell by 9 paise to end at 73.06 (provisional) against the US dollar even as the domestic equity markets settled with significant gains.
Forex traders said the local unit is trading in a narrow range as investors looked to key US inflation data and European Central Bank meeting later in the day for further cues.
At the interbank foreign exchange market, the rupee opened at 72.96 per dollar as against its previous close of 72.97.
It hovered in the range of 72.94 to 73.12 during the day before ending at 73.06.
The domestic currency has lost 26 paise in the last three trading sessions.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.09 per cent to 90.20. Gold in the national capital on Thursday declined Rs 259 to Rs 48,127 per 10 grams amid weak global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 48,386 per 10 gram.
Silver also dipped Rs 110 to Rs 70,274 per kg, from Rs 70,384 per kg in the previous trade.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices for 24 karat in Delhi fell by Rs 259 reflecting decline in COMEX (New York-based commodity exchange) gold prices.”
In the international market, gold was trading lower at USD 1,880 per ounce and silver was flat at USD 27.65 per ounce. Gold prices traded lower with firm dollar, he added.
Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, “Gold prices edged lower after trading steady in the past few trading sessions, weighed down by a firmer dollar.”
He added that investors sat on the sidelines waiting for clearer signals on inflation levels and economic growth ahead of US data and the European Central Bank meeting later in the day.