In the bullion market of the national capital on Monday, gold closed at Rs 72,250 per 10 grams with an increase of Rs 230. HDFC Securities gave this information. In the last trading session, gold had closed at Rs 72,020 per 10 grams. According to Bhasha news, amid the rise in the prices of precious metals in the international markets, the price of silver also increased by Rs 700 to reach Rs 84,300 per kg. In the previous trading session, silver had closed at Rs 83,600 per kg.
According to the news, Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, said that taking positive cues from foreign markets, spot gold (24 carat) in Delhi was trading at Rs 72,250 per 10 grams, which was Rs 230 more than the previous closing price. Is. In the international market Comex (commodity market), spot gold was trading at $ 2,312 an ounce, which is an increase of $ 11 from the previous closing price.
What influences prices?
Gold resumed trading on a positive note as a weaker than expected US job market report on Friday raised the chances of a rate cut by the US Federal Reserve in September. This turned negative for the US dollar and helped gold price climb above the $2,300 level, Gandhi said. Silver also increased at $ 27.05 an ounce. In the last session it had closed at $ 26.55 an ounce.
Gold and silver in futures trading
In the futures trade of Multi Commodity Exchange (MCX), gold jumped by Rs 562 to Rs 71,230 per 10 grams. The most traded June contract hit an all-time high of Rs 71,297 per 10 grams in the day’s trade. Apart from this, silver contract for July delivery was also trading higher by Rs 1,508 at Rs 82,551 per kg. Jatin Trivedi, vice president-research analyst, commodities and currencies at LKP Securities, said gold is expected to trade in the range of Rs 70,000 to Rs 72,500 in the near future.
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