Gold slips RS 80; silver plummets RS 700
New Delhi: Gold prices rose by Rs200 to Rs63,100 per 10 grams in the national capital on Monday amid strong global cues, according to HDFC Securities. The precious metal settled at Rs62,900 per 10 grams in the previous trade. Silver prices also increased by Rs200 to Rs76,400 per kg.
“Spot gold prices (24 carats) in the Delhi markets are trading at Rs63,100 per 10 grams, up by Rs200, following stronger overseas gold prices,” Dilip Parmar, research analyst at HDFC Securities, said. In the international markets, spot gold at Comex was trading at $2,031 per ounce, up by $13 from the previous close.
Gold prices increased after mixed US economic data which pushed the dollar slightly lower while the risk sentiment remains firm, Parmar said. Also, silver was trading marginally higher at $22.99 per ounce in the global markets. Traders believe that gold may appreciate in the near future amid geopolitical concerns in the Middle East and the possibility that the US Federal Reserve would delay the monetary policy interest rate cut, Parmar added.
