The Indian rupee strengthened on the Interbank Foreign Exchange, largely in tandem with dollar weakness against other Asian currencies overseas.

Buying activity in silver gathered momentum as the metal prices rose in global markets while sluggish local demand and weak trend in overseas market pull down gold prices.

The rate of GDP growth will slow down further to eight per cent in the current financial year, says Sonal Varma.

The state-owned carrier's aggressive pricing policy has dented profits of private carriers who are now looking at their international operations to recover.

Analysts said besides profit-booking by speculators, subdued spot markets demand at prevailing levels and a weakening global trend led to the fall in gold futures prices.

The Business Confidence Index (BCI) declined from 66.7 in the January-March quarter to 62.5 for April-June 2011, according to CII's quarterly Business Outlook Survey.

The fall in corporate profitability in the fourth quarter is a temporary squeeze, says Ajay Srinivasan.

A firming trend in the domestic spot market on account of marriage season demand also supported the rise in yellow metal prices in futures trade.

The Indian rupee on Wednesday declined by 11 paise to close at 3-month low of 45.32/33 against the US dollar following weakness in equities amid dollar demand from importers.

Silver fell further for the second straight session on Monday and fell by Rs 100 to Rs 53,200 per kg due to sustained selling by stockists in tandem with a weakening global trend.

The Indian rupee on Monday depreciated further by 21 paise to close at 2-month low of 45.22/23 against the Greenback following distinctly weak global stocks amid increased dollar demand from importers.

Profit booking by speculators amid a weak global trend led gold prices declined by Rs 54 to Rs 21,925 per 10 grams in futures trade on

Trading sentiments improved after gold rose in global markets as weakening stocks and commodities spurred the demand for the metal as safer assets.

Gold and silver fell due to a weakening global trend and slackened spot demand. While gold declined by by Rs 240 to Rs 22,230 per 10 grams, silver took a plunge of Rs 540 to Rs 54,410 per kg.

The BSE Sensex edged high 12.47 points or 0.07 per cent to end at 18,531.28, while the S&P CNX Nifty fell 6.70 points, or 0.12 per cent, to finish at 5,544.75.

Like precious metals, base metals too can give good returns if the timing is right.

The Indian rupee depreciated by 8 paise to Rs 44.41 against the US dollar, weighed down by dollar gains against other currencies and a weak trend in the equity market.

The Indian currency has refused to buckle under the onslaught of rising global oil prices, thanks to a surge in exports.

Market analysts said continued buying by speculators on rising global trend, where precious metal zoomed to a fresh 31-year high, and a weak dollar bossted demand for precious metals.

The domestic currency had fell by 4 paise to close at Rs 44.36/37 per dollar in the previous session on Thursday, following late dollar demand from importers.