Gold climbs Rs250; silver rallies Rs350
New Delhi: Gold prices rose Rs100 to Rs62,750 per 10 grams in the national capital on Monday amid strong cues in the overseas markets, according to HDFC Securities.
In the previous trade, the yellow metal had ended at Rs62,650 per 10 grams. Silver also jumped Rs350 to Rs77,950 per kilogram.
“Gold prices edged higher on Monday, in the Delhi markets trading at Rs62,750/10 gram, up by Rs100 against the previous close,” said Saumil Gandhi, senior analyst of commodities at HDFC Securities.
In the futures trade, February contract of gold declined Rs162 to Rs62,030 per 10 grams on the MCX. However, March contact of silver climbed Rs153 to Rs74,678 per kg on the bourse. In the global markets, gold and silver were trading higher at $2,024 per ounce and $24 per ounce, respectively. Spot gold at Comex was trading at $2,024 per ounce, up $5 from its previous close in the international markets.
Navneet Damani, senior V-P (commodity research) at Motilal Oswal Financial Services, said: “Gold price continue to trade higher, extending a push above key levels on the back of US Fed’s stance they were done with raising interest rates, and will consider rate cuts in 2024, which sparked steep losses in the dollar and Treasury yields.”
