Gold Price Rises Rs 150, Silver Climbs Rs 100 - HDFC Securities
Feb 21, 2024 16:26
Gold prices in India rose by Rs 150 on Wednesday, reaching Rs 62,850 per 10 grams, driven by strong global cues and geopolitical uncertainty. Silver also climbed by Rs 100 to Rs 75,700 per kilogram.
New Delhi, Feb 21 (PTI) Gold prices rose Rs 150 to Rs 62,850 per 10 grams in the national capital on Wednesday amid strong global cues in the overseas markets, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 62,700 per 10 grams.
Silver also climbed Rs 100 to Rs 75,700 per kilogram, while it had settled at Rs 75,600 per kg in the previous close.
"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 62,850 grams, up by Rs 150, amid a bullish trend in overseas markets," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at USD 2,027 per ounce, up by USD 9 from the previous close.
Gold prices rose on Wednesday amid ongoing geopolitical uncertainty, which helps the safe haven metal and continues to boost the uptrend, Gandhi added.
Silver was trading higher at USD 23.06 per ounce, while it had ended at USD 23.01 per ounce in the previous trade.
"Market participants are eagerly awaiting the release of the US Fed's meeting minutes later on Wednesday, which could provide insights into future monetary policy decisions," Jateen Trivedi, VP Research Analyst at LKP Securities, said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.