Gold price remains flat at Rs 59,505/10 gram

New Delhi, Jul 11 (PTI)Gold price remained flat at Rs 59,505 per 10 gram in the national capital on Tuesday, according to HDFC Securities.

Silver also ruled flat in the second session at Rs 72,500 per kilogram.

Spot gold prices in the Delhi markets traded at Rs 59,505/10 gram, unchanged from its previous day close as the strength of the rupee nullified the gains of overseas gold prices, Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

The rupee has appreciated nearly 0.33 per cent against the US dollar in the past two sessions, Gandhi added.

In the global markets, gold and silver were trading higher at USD 1,930 per ounce and USD 23.14 per ounce, respectively.

Gold price inched higher amidst a fall in yields and dollar index and as the market participants maintained a cautious stance ahead of US inflation data that could influence the Federal Reserve’s rate policy trajectory, Navneet Damani, Senior VP Commodity Research at Motilal Oswal Financial Services, said.