Markets

Gold rises ₹ 512, silver jumps ₹ 1,448

In the previous trade, the precious metal had closed at ₹56,080 per 10 gram  

Gold prices rose by ₹ 512 to ₹ 51,415 per 10 gram in the national capital on Wednesday, following a positive global trend and rupee depreciation, according to HDFC Securities.

The precious metal had closed at ₹ 50,903 per 10 gram in the previous trade.

Silver prices also jumped ₹ 1,448 to ₹ 64,015 per kilogram from ₹ 62,567 per kilogram in the previous trade.

The rupee pared its initial gains and depreciated 9 paise to settle at 73.58 (provisional) against the US dollar on Wednesday.

“Spot gold prices for 24 carat in Delhi were higher by ₹ 512, reflecting rally in international gold prices and rupee depreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold jumped to USD 1,921 per ounce, while silver rose marginally to USD 25.10 per ounce.

Navneet Damani, VP — Commodities Research, Motilal Oswal Financial Services said, “Gold prices edged higher supported by softer dollar and increasing hopes for a new US coronavirus relief package ahead of the November elections.”

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Printable version | Dec 4, 2020 2:58:57 PM | https://www.thehindu.com/business/markets/gold-rises-512-silver-jumps-1448/article32908776.ece

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