Rupee flat at 73.34 against USD, gold declines Rs 212

Mumbai, May 11 (PTI): The rupee pared its early losses to close almost flat at 73.34 (provisional) against the US dollar on Tuesday amid a lacklustre trend in the domestic equity markets. At the interbank forex market, the local unit opened lower at 73.47 against the greenback and declined to the day’s low of 73.53. The rupee later cut losses and finally ended at 73.34, registering a rise of 1 paisa over its previous close of 73.35 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.07 per cent to 90.14. Gold in the national capital on Tuesday declined by Rs 212 to Rs 47,308 per 10 gram with a decline in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,520 per 10 gram. Silver also tumbled Rs 973 to Rs 70,646 per kilogram from Rs 71,619 per kilogram in the previous trade.
In the international market, gold was trading down at USD 1,834 per ounce and silver was flat at USD 27.34 per ounce.
“Gold prices traded under pressure on firm dollar and rebound in US bond yields,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.