In the national capital, gold price rose by Rs 450 to Rs 73,400 per 10 grams. In the previous closing price, the yellow metal had closed at Rs 72,950 per 10 grams. The price of silver also increased by Rs 900 to Rs 86,900 per kg. In the last session it had closed at Rs 86,000 per kg. According to language news, HDFC Securities gave this information on Wednesday. There was an upward trend in both the precious metals amid the rise in the prices of precious metals at the international level.
spot gold in comex
According to the news, Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, said that amid positive trend in foreign markets, spot gold (24 carat) prices in Delhi markets are trading up by Rs 450 at Rs 73,400 per 10 grams. Internationally, spot gold in Comex was trading at $2,365 an ounce, up $26 from its previous closing price.
Gandhi said gold prices rose during European trading hours on Wednesday due to a weak US dollar and falling bond yields. Silver also reached $28.80 an ounce. In the last session it had closed at $28.35 an ounce.
Rate cut expected from US Federal Reserve
Buying was seen in prices on positive forecast of US CPI data to be released in the evening, which suggests a cooling down of inflation, which could lead to US Federal Reserve cutting rates soon. “Gold prices will remain bullish as long as MCX prices remain above Rs 70,000,” said Jatin Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities. Sachin Jain, CEO of India operations of WGC, said: A few days ago it was said that the demand for gold from India is expected to be 700 to 800 metric tons in the year 2024.
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