Gold remains flat; silver jumps Rs 400
New Delhi: Gold prices remained steady at Rs63,150 per 10 grams in the national capital on Monday, according to HDFC Securities. However, silver jumped Rs400 to Rs75,400 per kg from its previous close of Rs75,000 per kg. Meanwhile, the next tranche of Sovereign Gold Bond scheme opened for subscription at a price of Rs6,263 per gram. The issue is open until February 16. The Government of India, in consultation with the Reserve Bank, has decided to offer a discount of Rs50 per gram less than the nominal value to those investors applying online and making the payment against the application through digital mode.
“Spot gold prices (24 carats) in the Delhi markets are trading flat at Rs63,150 per 10 grams, unchanged from the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. In the international markets, spot gold at Comex was trading at $2,022 per ounce, down by $2 from the previous close. Also, silver was trading marginally higher at $22.80 per ounce. Traders avoided directional bets before the outcome of the US consumer inflation data, to be released on Tuesday, which can provide more insights about the US Federal Reserve monetary policy path, Gandhi added.