Bullion prices reeling under pressure
New Delhi: Gold rose by Rs100 to Rs60,450 per 10 gram in the national capital on Monday amid jump in precious metal prices globally, according to HDFC Securities.
The yellow metal had settled at Rs 60,350 per 10 gram in the previous trade. However, silver remained flat at Rs77,000 per kg. “Gold rose on Monday, with spot gold in the Delhi markets trading at Rs 60,450/10 gram, up by Rs 100, taking positive cues from overseas markets,” said Saumil Gandhi, senior analyst of commodities at HDFC Securities.
“In MCX, gold prices also exhibited a sideways trend, closely following Comex. The absence of significant data can support prices, combined with the weakness of the rupee due to the surge in crude oil prices, providing support to gold prices in MCX,” said Jateen Trivedi, VP Research Analyst at LKP Securities. In the international markets, gold was trading higher at $1,945 per ounce, while silver was marginally down at $24.17 per ounce.