Rupee 14 paise up at 73.95 against USD, gold jumps Rs 310

Mumbai, May 03 (PTI): The rupee pared its initial losses to settle higher by 14 paise at 73.95 (provisional) against the US dollar on Monday following losses in the American currency in the global markets.
At the interbank foreign exchange market, the domestic unit opened lower at 74.25 tracking a sell-off in the domestic equities. The rupee touched a low of 74.33 and a high of 73.90 during the day.
The domestic unit finally ended 14 paise higher at 73.95 against the US dollar. On Friday, the rupee had closed at 74.09 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.14 per cent to 91.15. Gold jumps Rs 310 to Rs 46,580 per 10 gram in the national capital on Monday reflecting recovery in global precious metal prices and rupee depreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 46,270 per 10 gram.
Silver also jumped Rs 580 to Rs 67,429 per kg from Rs 66,849 per kg in the previous trade.
The Indian rupee slumped 24 paise to 74.33 against the dollar in the opening trade on Monday.
In the international market, gold was trading with gains at USD 1,777 per ounce and silver gained marginally to USD 26.06 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices traded higher with spot prices at COMEX (New York-based commodities exchange) trading at USD 1,777 per ounce on Monday.”
He added that gold prices pared some of previous losses as weaker dollar supported prices to trade firm.