In the worldwide markets, spot gold at Comex was buying and selling at USD 2,110 per ounce, up by greater than 1 per cent from the earlier shut. (Representative picture)
Silver additionally rallied Rs 900 to Rs 74,900 per kg. In the earlier commerce, it had settled at Rs 74,000 per kilogram.
Gold costs on Tuesday surged Rs 800 to hit a recent file excessive of Rs 65,000 per 10 grams within the nationwide capital amid robust international traits, based on HDFC Securities.
In the earlier shut, the dear steel had closed at Rs 64,200 per 10 grams.
Silver additionally rallied Rs 900 to Rs 74,900 per kg. In the earlier commerce, it had settled at Rs 74,000 per kilogram.
“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 65,000 per 10 grams, up by Rs 800, taking bullish cues from the overseas markets.
“In domestic markets, spot gold hit a new all-time high of Rs 65,000 on Tuesday,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, mentioned.
In the worldwide markets, spot gold at Comex was buying and selling at USD 2,110 per ounce, up by greater than 1 per cent from the earlier shut.
“Gold prices experienced an uptick driven by growing speculation that the US Federal Reserve will cut interest rates in June, thus gain of more than Rs 2,400 was seen in MCX in last three days.
“The rise was also fuelled by signs of slowing industrial and construction spending in the US, coupled with a decrease in inflationary pressures,” Jateen Trivedi, VP Research Analyst at LKP Securities, mentioned.
Additionally, heightened geopolitical tensions have dampened the urge for food for brief-promoting, thereby bolstering yellow steel’s attractiveness as a purchase-on-dip asset, Trivedi added.
Silver was additionally quoting greater at USD 23.88 per ounce. In the earlier commerce, it had ended at USD 23.09 per ounce.
“Gold and silver prices were recovered and are trading positive, despite a steady dollar in the overseas market while steady moves in global equities and uncertainty over the US Fed’s policies on cutting interest rates have pushed investors towards the safer asset,” Pranav Mer, VP of Research (Commodity & Currency) at BlinkX and JM Financial, mentioned.
(This story has not been edited by News18 workers and is revealed from a syndicated information company feed – PTI)
