Gold rises Rs 150; silver climbs Rs 100

New Delhi: Gold prices rose Rs150 to Rs62,850 per 10 grams in the national capital on Wednesday amid strong global cues in the overseas markets, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs62,700 per 10 grams. Silver also climbed Rs100 to Rs75,700 per kilogram, while it had settled at Rs75,600 per kg in the previous close. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs62,850 grams, up by Rs150, amid a bullish trend in overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at $2,027 per ounce, up by $9 from the previous close. Gold prices rose on Wednesday amid ongoing geopolitical uncertainty, which helps the safe haven metal and continues to boost the uptrend, Gandhi added. Silver was trading higher at $23.06 per ounce, while it had ended at $23.01 per ounce in the previous trade. “Market participants are eagerly awaiting the release of the US Fed’s meeting minutes later on Wednesday, which could provide insights into future monetary policy decisions,” Jateen Trivedi, VP Research Analyst at LKP Securities, said.