Gold, silver prices at fresh highs
Demand for precious metals rising amid escalating tensions in Middle East
New Delhi: Extending gains for the second day in a row, gold and silver prices hit fresh all-time high levels on Tuesday, tracking strong trends in the international markets amid fears of escalating tensions in the Middle East. According to HDFC Securities, gold prices zoomed Rs700 to hit its lifetime high of Rs73,750 per 10 grams in the national capital on Tuesday. It had closed at Rs73,050 per 10 grams on Monday. Similarly, silver price jumped Rs800 to hit a record high of Rs86,500 per kg.
“Spot gold prices (24 carats) in the Delhi markets are trading at a new record high of Rs 73,750 per 10 grams, up by Rs 700, taking positive cues from overseas markets,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.
“However, elevated US Treasury yields and firm dollar will limit the upside in the precious metal prices and keep the metal volatile, Praveen Singh, associate V-P (fundamental currencies and commodities) at Sharekhan by BNP Paribas.
