Bullion prices surge on US data
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New Delhi: Gold prices jumped by Rs400 to Rs60,100 per 10 grams in the national capital on Thursday amid strong global trends, according to HDFC Securities.
The precious metal had closed at Rs59,700 per 10 grams in the previous trade. Silver prices also zoomed Rs2,300 to Rs75,000 per kg. “Gold prices climbed on Thursday, with spot gold prices in the Delhi markets trading at Rs 60,100/10 gram up by Rs 400 from its previous day’s close,” Saumil Gandhi, senior analyst, commodities, HDFC Securities, said. In the global market, both gold and silver were trading higher at $1,960 per ounce and $24.17 per ounce, respectively. Comex gold prices extended their gains and traded at a four-week high following softer-than-expected US consumer inflation data which raised expectations that the Federal Reserve’s rate hike cycle might be coming to an end, Gandhi said.
