Precious Metals: Gold gains Rs 105; silver jumps by Rs 1,073

Gold rose by Rs 105 to Rs 44,509 per 10 gram in the national capital on Thursday, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 44,404 per 10 gram.

“Spot for 24 carats in Delhi were up by Rs 105 reflecting overnight rally in global gold prices,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Silver also jumped Rs 1,073 to Rs 67,364 per kilogram from Rs 66,291 per kilogram in the previous trade.

Navneet Damani, VP Commodities Research, Motilal Oswal Financial Services, “rose after the US Fed in the policy statement yesterday maintained their accommodative stance, hence weighing on the dollar.”

After its two-day policy meeting, the US Fed reassured investors that it expects to keep its key interest rate near zero through 2023.

On Thursday’s trade, in the international market gold was quoting marginally lower at USD 1,738 per ounce while silver was flat at USD 26.36 per ounce.

traded marginally down with spot prices at COMEX (New York-based commodities exchange) trading at USD 1,738 per ounce on Thursday,” Patel added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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