Gold prices rose by Rs 150 to Rs 62,850 per 10 grams in Delhi on Wednesday, driven by strong global cues. Silver also gained Rs 100, reaching Rs 75,700 per kilogram. The rise was attributed to ongoing geopolitical uncertainty and the upcoming US Fed meeting minutes.
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.
Amid the ongoing geopolitical uncertainty in the Middle East, prices of the yellow metal rose on Wednesday, 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.
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