In Delhi, gold rose by Rs 1,070 to a new record level of Rs 68,420.
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New Delhi. Amid the strengthening trend in gold prices in the international markets, the price of gold in the bullion market of the national capital on Monday rose by Rs 1,070 to reach an all-time high of Rs 68,420 per 10 grams. HDFC Securities gave this information. In the last trading session, gold had closed at Rs 67,350 per 10 grams. Silver price also increased by Rs 1,120 to close at Rs 78,570 per kg. In the previous trading session, it had closed at Rs 77,450 per kg.
Dilip Parmar, Research Analyst, HDFC Securities, said, “Gold prices have reached record levels as the US Federal Reserve is getting closer to cutting interest rates, which is giving impetus to the rise in bullion prices. ”Apart from this, strong demand from China is also causing rise in gold prices.” Meanwhile, the price of June contract of gold in MCX futures trade rose by Rs 978 to Rs 68,679 per 10 grams. The price of May contract of silver rose by Rs 763 to Rs 75,811 per kg.
Spot gold prices in the foreign market Comex rose to US $ 2,265.73 an ounce and were last quoted at $ 2,257.10 an ounce. “Gold has surged above $2,280 an ounce in overseas futures and hit a record high of Rs 69,487 per 10 gram in MCX futures as US currency… “Growth data is better than expected and inflation is above 2.5 percent, raising concerns about an expected interest rate cut at the Federal Reserve’s June meeting.”
He said, “The dollar index is trading stable as many markets are closed today due to Easter holidays.” Silver was also trading with gains at $ 25.13 an ounce. In the last session it had closed at $24.55 an ounce. “Also, on Monday, key US data, including the Manufacturing Purchasing Managers’ Index (PMI), will be released, which will provide further guidance on the Federal Reserve’s monetary policy outlook,” said Praveen Singh, associate vice president fundamental currencies and commodities at BNP Paribas Buy Sharekhan. Will provide.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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