Gold and silver prices climb
image for illustrative purpose
New Delhi: Gold prices jumped Rs450 to Rs72,900 per 10 grams in the national capital on Tuesday in line with strong trends internationally, according to HDFC Securities. In the previous session, the precious metal had closed at Rs72,450 per 10 grams. Additionally, silver prices climbed Rs200 to Rs93,100 per kg. It had settled at Rs92,900 per kg in the previous session. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs72,900 per 10 grams, up by Rs450 against the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the global markets, spot gold at Comex was trading at $2,335 per ounce, up $15 from the previous close. Gold rose on Tuesday as disappointing US manufacturing data raised hopes that the Federal Reserve will have room to lower borrowing costs this year, Gandhi said. In addition, silver went up to $30.25 per ounce. It had ended at $30.19 per ounce in the previous session.
“Gold is stuck in a range in the absence of fresh triggers and as markets look ahead to the European Central Banks policy outcome on Thursday and the US Nonfarm Payroll/ employment data on Friday,” Pranav Mer, VP of Research (Commodity & Currency) at BlinkX and JM Financial Services, said.
