Gold jumps Rs 450; silver surges Rs 900
image for illustrative purpose
New Delhi: Gold price jumped Rs450 to Rs73,400 per 10 grams in the national capital on Wednesday amid a rally in precious metal rates internationally, according to HDFC Securities. The yellow metal had closed at Rs72,950 per 10 grams in the previous close. Silver price also surged by Rs900 to Rs86,900 per kg. In the previous session, it had ended at Rs86,000 per kg.
“Spot gold prices (24 carats) in the Delhi markets are trading at Rs73,400 per 10 grams, up by Rs450 amid a positive trend in the overseas markets,” Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said. Globally, spot gold at Comex was trading at $2,365 per ounce, up by $26 from the previous close.
Gold rose during European trading hours on Wednesday, buoyed by a weak US dollar and falling bond yields, Gandhi said. Silver also quoted higher at $28.80 per ounce. In the previous session, it had ended at $28.35 per ounce. “The prices witnessed buying on the positive forecast for US CPI data to be released in the evening, hinting at inflation cooling off, which could prompt the US Federal Reserve to cut rates sooner.
