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Bullion prices rise on global cues

Gold prices appreciated Rs200 to Rs63,650 per 10 grams in the national capital on Friday amid strong cues in global markets, according to HDFC Securities.

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New Delhi: Gold prices appreciated Rs200 to Rs63,650 per 10 grams in the national capital on Friday amid strong cues in global markets, according to HDFC Securities. The precious metal had closed at Rs63,450 per 10 grams in the previous trade. Silver also rallied Rs400 to Rs76,500 per kilogram, while it had ended at Rs76,100 per kg in the previous close.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs63,650 per 10 grams, up Rs200, taking cues from the overseas markets,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.

In the international markets, spot gold at Comex was trading higher at $2,054 per ounce, up $10 from the previous close. Traders are looking for US non-farm payrolls data to be released on Friday, which could offer more cues on the macro front for the US Fed’s monetary policy outlook, Gandhi added. Also, silver was quoting with gains at $23.15 per ounce. Gold prices stayed positive this week on the back of Middle East tensions and uncertainty over US Fed’s monetary policy interest rate, added Jateen Trivedi, V-P (research) at LKP Securities.

PTI
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