Gold and silver prices rise
image for illustrative purpose
New Delhi: Gold prices rose Rs200 to Rs73,310 per 10 grams in the national capital on Friday in line with global trends, according to HDFC Securities. The yellow metal settled at Rs73,110 per 10 grams in the previous session. Silver also climbed Rs350 to Rs93,400 per kg against Rs93,050 per kg in the previous trade. “In Delhi markets, spot gold prices (24 carats) are quoted at Rs73,310 per 10 grams, up by Rs200 from the previous close,” Dilip Parmar, Research Analyst at HDFC Securities, said.
In the overseas markets, spot gold at Comex was trading at $2,363 per ounce, up $7 from the previous session. “Gold and silver prices continue to hold their ground after a sharp rally witnessed at the start of this week and were on track for a second weekly gain, while investors awaited US employment data to gauge the trajectory of interest rate cuts in this year,” Manav Modi, Senior Analyst - Commodity Research at Motilal Oswal Financial Services Ltd, said.
According to Parmar, the dismal US economic data also bolstered the prospect of the US Federal Reserve pivoting to monetary easing as soon as September, pushing the yellow metal higher. In addition, silver was quoted higher at $30.55 per ounce. In the previous session, it settled at $30.40 per ounce.
