Gold rises Rs 512, silver jumps Rs 1,448
Gold prices rose by Rs 512 to Rs 51,415 per 10 gram in the national capital on Wednesday, following a positive global trend and rupee depreciation, according to HDFC Securities. The precious metal had closed at Rs 50,903 per 10 gram in the previous trade. Silver prices also jumped Rs 1,448 to Rs 64,015 per kilogram from Rs 62,567 per kilogram in the previous trade.
The rupee pared its initial gains and depreciated 9 paise to settle at 73.58 (provisional) against the US dollar on Wednesday.
"Spot gold prices for 24 carat in Delhi were higher by Rs 512, reflecting rally in international gold prices and rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
In the international market, gold jumped to USD 1,921 per ounce, while silver rose marginally to USD 25.10 per ounce.
Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, "Gold prices edged higher supported by softer dollar and increasing hopes for a new US coronavirus relief package ahead of the November elections.
