gold and silver After two consecutive sessions of decline, prices returned higher on Friday. Gold prices in the national capital rose by Rs 950 to cross the Rs 73,000 mark amid a bullish trend globally and strong domestic demand on the occasion of Akshaya Tritiya. According to HDFC Securities, the price of gold in Delhi rose by Rs 950 to Rs 73,200 per 10 grams. In the last trading session it had closed at Rs 72,250 per 10 grams. The price of silver also jumped by Rs 2,300 to Rs 85,500 per kg. In the previous trading session, silver had closed at Rs 83,200 per kg.
Tremendous rise in spot market
Saumil Gandhi, senior analyst (commodity), HDFC Securities, said, “Spot gold (24 carat) in Delhi markets stood at Rs 73,200 per 10 grams, which is Rs 950 more than the previous closing price.” Retail demand will increase on the auspicious occasion of Tritiya, as people will buy gold coins, bars and jewellery. Spot gold in the international market Comex (commodity market) stood at $ 2,360 an ounce, which is $ 52 stronger than the previous closing price.
Due to this the rise in gold prices
Gold rose after the latest US unemployment claims data showed signs of slowing in the labor market. This increased confidence that the US Federal Reserve may start cutting interest rates this year. Silver also remained marginally higher at $28.60 an ounce. In the last trading session, silver had closed at $ 27.50 an ounce.
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