Bullion prices sparkle on strong global cues
New Delhi: Gold prices rose by Rs150 to Rs59,650 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs59,500 per 10 grams. Silver also rallied Rs1,400 to Rs76,700 per kg. In the overseas market, both gold and silver were trading higher at $1,920 per ounce and $24.20 per ounce, respectively.
“Comex gold prices surged to a two-week high following weaker US macro data that reignited optimism that policymakers are nearing the end of monetary-tightening cycles. Treasury yields dipped further after weak US macro data on Wednesday, which also helped gold prices continue their march northward,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.