Rupee closes flat at 73.68 against USD, gold falls by Rs 36

Mumbai, Sep 14 (PTI):
The rupee settled flat at 73.68 (provisional) against the US currency on Tuesday in tandem with the muted trend in domestic equities.
At the interbank foreign exchange market, the local currency opened at 73.62 and witnessed a low of 73.70 and an intra-day high of 73.57 in the day trade.
The domestic unit finally settled at 73.68 against the greenback, unchanged from its previous close.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.07 per cent down at 92.61.
Gold in the national capital on Tuesday fell marginally by Rs 36 to Rs 45,888 per 10 grams in line with decline in international precious metal prices and rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 45,924 per 10 grams. Silver, however, gained Rs 73 to Rs 61,911 per kg, from Rs 61,838 per kg in the previous trade.
“Spot gold prices for 24 carat in Delhi fell by Rs 36 in line with fall in COMEX (New York-based commodity market) gold prices and rupee appreciation,” according to HDFC Securities Senior Analyst (Commodities) Tapan Patel. In the international market, gold was trading lower at USD 1,788 per ounce and silver was flat at USD 23.68 per ounce.
Gold prices fell by Rs 88 to Rs 47,005 per 10 grams in the futures trade on Tuesday, as speculators reduced their positions amid low demand. On the Multi Commodity Exchange, gold contracts for December traded lower by Rs 88, or 0.19 per cent, to Rs 47,005 per 10 grams in a business turnover of 6,369 lots.
Analysts attributed the fall in gold prices to trimming of positions by participants.
Silver futures on Tuesday dropped Rs 59 to Rs 63,240 per kg, as participants reduced their bets on low demand.
On the Multi Commodity Exchange, silver contracts for the December delivery tumbled by Rs 59, or 0.09 per cent, to Rs 63,240 per kg in a business turnover of 11,299 lots.
The metal traded lower by 0.30 per cent at USD 23.73 per ounce in New York.

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