New Delhi: Gold and silver prices rose in the national capital on Friday amid a strong trend in overseas markets, according to HDFC Securities.
Prices of the precious metal rose by Rs 350 to Rs 72,850 per 10 grams. In the last session it had closed at Rs 72,500 per 10 grams.
Silver prices also jumped by Rs 600 to Rs 84,700 per kg. At the previous closing price, I closed at Rs 84,100 per kg.
"Taking bullish cues from overseas markets, spot gold prices (24 carat) traded higher by Rs 350 at Rs 72,850 per 10 gram in Delhi markets," said Soumi Gandhi, senior commodity analyst at HDFC Securities.
In international markets, spot gold on Comex was trading at US$2,340 an ounce, higher by US$21 from its previous close.
Gold prices rose on Thursday after the release of US GDP data, which suggested a significant economic slowdown and inflationary pressures. This development is seen as a major factor supporting round prices, Gandhi said.
Silver also increased to US $ 27.55 per ounce. In the last trade, I closed at US$27.20 per ounce.
"Comex Gold found short-term support at US$2,300 levels and traded as high as US$2,348 an ounce. The market's focus is now on the Personal Consumption Expenditure (PCE) Price Index data coming on Friday, which is It is expected to be based on US... An important indicator is the interest rate decisions of the Federal Reserve.
Jatin Trivedi, VP Research Analyst, Commodity & Currency at LKP Securities, said, “If the data reflects expectations of higher rates for a longer period, it could put pressure on gold prices, while lower inflation expectations will keep gold under pressure. There should be support." Can."
Prices of the precious metal rose by Rs 350 to Rs 72,850 per 10 grams. In the last session it had closed at Rs 72,500 per 10 grams.
Silver prices also jumped by Rs 600 to Rs 84,700 per kg. At the previous closing price, I closed at Rs 84,100 per kg.
"Taking bullish cues from overseas markets, spot gold prices (24 carat) traded higher by Rs 350 at Rs 72,850 per 10 gram in Delhi markets," said Soumi Gandhi, senior commodity analyst at HDFC Securities.
In international markets, spot gold on Comex was trading at US$2,340 an ounce, higher by US$21 from its previous close.
Gold prices rose on Thursday after the release of US GDP data, which suggested a significant economic slowdown and inflationary pressures. This development is seen as a major factor supporting round prices, Gandhi said.
Silver also increased to US $ 27.55 per ounce. In the last trade, I closed at US$27.20 per ounce.
"Comex Gold found short-term support at US$2,300 levels and traded as high as US$2,348 an ounce. The market's focus is now on the Personal Consumption Expenditure (PCE) Price Index data coming on Friday, which is It is expected to be based on US... An important indicator is the interest rate decisions of the Federal Reserve.
Jatin Trivedi, VP Research Analyst, Commodity & Currency at LKP Securities, said, “If the data reflects expectations of higher rates for a longer period, it could put pressure on gold prices, while lower inflation expectations will keep gold under pressure. There should be support." Can."