Markets

Gold gains ₹ 294; silver down ₹ 170

A jeweller shows jewellery to customers at his shop that opened after restrictions of COVID-19 lockdown eased, in Surat, Wednesday, June 16, 2021.   | Photo Credit: PTI

Gold in the national capital on Friday gained ₹ 294 to ₹ 47,442 per 10 grams in line with rally in international precious metal prices, according to HDFC Securities.

The precious metal had in the previous trade closed at ₹ 47,148 per 10 grams.

In contrast, silver prices diminished by ₹ 170 to ₹ 66,274 per kg, from ₹ 66,444 per kg in the previous trade.

In the international market, gold was trading higher at $ 1,830 per ounce and silver was flat at $ 25.57 per ounce.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Gold prices witnessed strong buying following selling in dollar post FOMC meeting. The dollar index fell to a four-week low which boosted buying in the yellow metal." Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said, "Gold prices traded higher and are set for their biggest weekly gain in more than two months, as the U.S. Fed governor struck a dovish tone and put cold water on the fears regarding a rate hike and early tapering, hence boosting the safe-haven appeal."


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Printable version | Sep 20, 2021 5:49:58 AM | https://www.thehindu.com/business/markets/gold-gains-294-silver-down-170/article35625574.ece

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