Gold jumps to record high
image for illustrative purpose
New Delhi: Gold prices surged Rs 450 to Rs 64,300 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities. This is at least the second time the precious metal prices have touched a record high of Rs64,300 per 10 grams. In the previous trade, the yellow metal had ended at Rs63,850 per 10 grams.
Silver also climbed Rs400 to Rs 79,500 per kilogram, while it had closed at Rs79,100 per kg in the previous close. In the international markets, gold and silver were quoting higher at $2,080 per ounce and $24.31 per ounce, respectively. “The Comex spot gold surged to a three-week high following a fall in US Treasury yields and the dollar index, while traders anticipate aggressive Federal Reserve interest rate cuts by next year,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. The US jobs data, to be released on Thursday, will give more cues on the macro front and provide further insights into the potential shifts in the US Fed's monetary policy, Gandhi added.
