Gold, silver prices rebound
image for illustrative purpose
New Delhi: Gold and silver prices rebounded on Wednesday after falling in the past two sessions, with the yellow metal rising Rs410 to Rs72,610 per 10 grams in the local market due to strong trends in the global markets.
Silver prices also jumped Rs250 to Rs83,750 per kg. According to HDFC Securities, gold prices bounced Rs410 to Rs72,610 per 10 grams in Delhi. The precious metal had closed at Rs72,200 per 10 grams on Tuesday. Silver prices also rose Rs250 to Rs83,750 per kg. In the previous close, it had settled at Rs83,500 per kg.
“Spot gold prices in the Delhi markets are trading at Rs72,610 per 10 grams, up by Rs410 against the previous close,” Saumil Gandhi, senior analyst (commodities) at HDFC Securities. In the international markets, spot gold at Comex was trading at $2,322 per ounce, up $12 from the previous close. Following the release of the US macroeconomic data, the US dollar and the Treasury yields declined, which further helped the bullion prices bounce back from a recent low, Gandhi said. Silver was also trading higher at $27.10 per ounce. It had ended at $26.80 per ounce in the previous session.
