Gold rises ₹130; silver jumps ₹100

The precious metal ended at ₹59,280 per 10 gram.

July 04, 2023 05:10 pm | Updated 05:10 pm IST - New Delhi

A woman selects bangles at a jewellery showroom in New Delhi. File

A woman selects bangles at a jewellery showroom in New Delhi. File | Photo Credit: PTI

Gold price edged higher by ₹130 to ₹59,280 per 10 gram in the national capital on Tuesday amid strong global cues, according to HDFC Securities.

The precious metal had ended at ₹59,150 per 10 gram in the previous trade.

Silver also jumped ₹100 to ₹71,300 per kg.

"Gold trading higher on Tuesday, with spot gold prices in the Delhi markets at ₹59,280/10 gram, up by ₹130 per 10 gram, taking cues from overseas markets," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

In international markets, both gold and silver were trading higher at $1,927 per ounce and $22.93 per ounce, respectively.

Following poorer than anticipated economic data on Monday, safe-haven purchase is still helping sustain gold prices, while investors await the outcome of FOMC June meeting minutes on Wednesday, which could provide further insights on the interest rate front, Gandhi said.

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