Gold, silver in divergent trading

New Delhi: Gold prices on Wednesday rose by Rs150 to Rs65,150 per 10 grams in the national capital amid strong global cues, according to HDFC Securities. Extending gains for the second straight day, the precious metal touched a fresh lifetime of Rs65,150 per 10 grams. In the previous trade, the precious metal had closed at Rs65,000 per 10 grams. However, silver prices declined by Rs400 to Rs74,500 per kg. In the previous close, it had settled at Rs74,900 per kg. “Spot gold prices (24 carats) in the Delhi markets are trading at Rs65,150 per 10 grams, up by Rs150, taking bullish cues from the overseas markets,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.

“Helped by continued strong buying momentum on the expectations of a Fed pivot in June, spot gold hit a fresh record high of $2,041.84 per ounce before it settled with a gain of 0.61 per cent at $2,128 on Tuesday. The yellow metal posted its fifth consecutive gain as the key US macroeconomic data fell short of forecast,” said Praveen Singh, Associate Vice President (Fundamental Currencies and Commodities) at Sharekhan by BNP Paribas.