Gold rises by Rs 500 to new record high of Rs 65,650, silver also strong
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New Delhi. Amid the rise in the prices of precious metals in the international market, the price of gold rose by Rs 500 to Rs 65,650 per 10 grams in the bullion market of the national capital on Thursday. This is its all-time high. HDFC Securities gave this information. Gaining for the third consecutive day, gold reached a new high of Rs 65,650 per 10 grams. In the last trade, the price of gold had closed at Rs 65,150 per 10 grams. The price of silver also increased by Rs 400 to Rs 74,900 per kg. In the last trading session, it had closed at Rs 74,500 per kg.
Saumil Gandhi, senior commodity analyst at HDFC Securities, said, “In the Delhi market, gold (24 carat) was trading at spot price of Rs 65,650 per 10 grams, which is an increase of Rs 500 from the previous closing price. In the international market, gold spot in Comex (commodity market) was trading strongly at $ 2,152 an ounce, which is an increase of $ 30 from the previous closing price.
Gold on Comex hit a new high of $2,161.50 an ounce in Asian trading hours on Thursday after Federal Reserve chief Jerome Powell reiterated that the US central bank will lower interest rates this year, Gandhi said. Silver was at $24.10 per ounce as against its previous closing price of $23.75 per ounce.
“Going forward, the market’s focus has shifted to the upcoming US Consumer Price Index (CPI) data for February,” said Jatin Trivedi, Vice President, Research Analysis Department, LKP Securities. This will prove to be an important factor for the direction of gold prices next week.” He said, ”Also, non-farm payrolls and unemployment data to be released on Friday will provide further direction for gold trends.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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