Gold rises Rs 95; silver jumps Rs 154
Gold prices rose by Rs 95 to Rs 48,015 per 10 gram in the national capital on Monday amid a positive global trend and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 47,920 per 10 gram. Silver prices also jumped Rs 154 to Rs 70,998 per kg, from Rs 70,844 per kg in the previous trade. The rupee depreciated by 4 paise to 72.87 against the US dollar in the early trade on Monday.
In the international market, gold was trading in the green at USD 1,882 per ounce and silver was flat at USD 27.67 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Gold prices continued upside after gaining for three consecutive weeks. Gold prices traded near four-month high on weaker dollar."
Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, "Gold steadied near the highest level amid weaker dollar and pullback in US yields showing the investors increased optimism on the precious metal."
(With PTI Inputs)
