Gold jumps Rs 723 on global cues
Gold in the national capital on Wednesday rallied Rs 723 to Rs 49,898 per 10 gram reflecting gains in the international prices of the precious metal and rupee depreciation, according to HDFC Securities.
On Tuesday, gold had closed at Rs 49,175 per 10 gram.
"Spot gold prices for 24 carat in Delhi rallied Rs 723 reflecting gains in international gold prices and rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The rupee depreciated 9 paise to settle at 75.02 (provisional) against the US dollar on Wednesday.
Silver, however, declined Rs 104 to Rs 50,416 per kg from Rs 50,520 per kg in the previous trade.
In the international market, gold was trading with gains at USD 1,800 per ounce and silver at USD 18.36 per ounce.
Gold prices witnessed buying over continuous rise in COVID-19 cases and attracted safe-haven bets, he added.
