Gold, silver prices rebound
image for illustrative purpose
New Delhi: Gold prices climbed Rs380 to Rs62,150 per 10 grams in the national capital on Tuesday amid strong global cues, according to HDFC Securities.
In the previous trade, the precious metal settled at Rs61,770 per 10 grams. Silver also edged up by Rs100 to Rs76,400 per kilogram. In the global markets, both gold and silver were trading higher at $1,992 per ounce and $23.66 per ounce, respectively. “Gold prices surged to a fresh swing high as the dollar and Treasury yields fell in the wake of expectations that Federal Reserve was done with raising interest rates,” said Saumil Gandhi, senior analyst of commodities at HDFC Securities.
Traders will focus on minutes of the Federal Open Market Committee (FOMC) meeting which is going to be released later in the day for cues on monetary policy rate outlook, Gandhi said.
