Markets

Gold rises ₹75, silver jumps ₹110 on rise in festive demand

Representational image.

Representational image.   | Photo Credit: Reuters

Gold prices rose by ₹75 to ₹38,945 per 10 gram; silver jumped ₹110 to ₹46,520 per kg

Prices of gold went up by ₹75 to ₹38,945 per 10 gram in the national capital helped by a rise in festive demand and a weaker rupee, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹38,870 per 10 grams.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices for 24 karat in Delhi were trading higher by ₹75 with rise in festival demand and a weaker rupee. The spot rupee was trading 13 paise weaker against the dollar during the day.”

Buying was also witnessed in silver as the prices jumped ₹110 to ₹46,520 per kg from ₹46,410 per kg.

In the global market, gold and silver both were trading lower, with the former quoting at $1,490 per ounce and the latter at $17.52 an ounce.

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Printable version | Jun 3, 2020 12:11:29 PM | https://www.thehindu.com/business/markets/gold-rises-75-silver-jumps-110-on-rise-in-festive-demand/article29786507.ece

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