Gold price rises Rs 650 to Rs 1.66 lakh/10g in Delhi

Gold price rose by Rs 650 to Rs 1.66 lakh per 10 grams in the national capital on Thursday after the rupee fell to a record low against the US dollar amid persistent geopolitical tensions.

According to the All India Sarafa Association, gold of 99.9 per cent purity rose Rs 650 to Rs 1,66,000 per 10 grams (inclusive of all taxes) from Wednesday’s closing of Rs 1,65,350 per 10 grams.

This is the third consecutive day of fall for the precious metal. “Gold traded with modest gains in the domestic market, supported by positive cues from the international market and continued weakness in the Indian rupee. However, the upside remained limited as higher prices weighed on physical demand and kept overall buying interest subdued,” Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.