Global gold demand plunges, India bucks trend with double digit growth
New Delhi: Gold price rallied Rs750 to Rs61,650 per 10 grams in the national capital on Friday amid strong cues in overseas markets, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs60,900 per 10 grams. “Gold price advanced on Friday, following strong gains in the overseas market,” said Saumil Gandhi, senior analyst of commodities at HDFC Securities. Silver also jumped Rs500 to Rs74,700 per kilogram. In the global markets, both gold and silver were quoting higher at $1,980 per ounce and $23.20 per ounce, respectively. Comex spot gold hit a nearly four-month high on Friday due to concerns over geopolitical unrest in the Middle East, Gandhi said.
