Gold rises Rs 250, silver jumps Rs 258
Gold prices rose by Rs 250 to Rs 46,277 per 10 gram in the national capital on Monday in line with a rebound in global precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,027 per 10 gram. Silver prices also jumped Rs 258 to Rs 66,842 per kilogram from Rs 66,584 per kilogram in the previous trade.
In the international market, gold was trading higher at USD 1,782 per ounce and silver also gained marginally to USD 26.05 per ounce.
"Gold prices witnessed recovery on Monday after reporting the worst weekly decline in 15 months. The yellow metal was supported by fall in US treasury yields despite firm dollar," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said: "Gold prices edged higher after posting a 6 per cent drop; the biggest weekly loss in 15 months as a retreat in US Treasury yields boosted the appeal of the safe-haven metal."
(With PTI Inputs)
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