Strong global trend In line with the latest data, gold on Tuesday rose by Rs 70 to Rs 72,550 per 10 grams in the national capital’s bullion market. In the previous trading session, gold had closed at Rs 72,480 per 10 grams. However, the price of silver fell by Rs 400 to Rs 91,500 per kg as compared to the previous closing price. In the previous trading session, it had closed at Rs 91,900 per kg. Saumil Gandhi, research analyst at HDFC Securities, said, spot gold (24 carat) prices in Delhi markets were trading at Rs 72,550 per 10 grams. This is Rs 70 more than the previous closing price.
Gold jumped in the international market
Spot gold was trading at $2,324 an ounce in the international market Comex, which is six dollars higher than the previous close price. Gandhi said that gold traded in a limited range on Tuesday due to disappointing sentiment in the market. He said, traders are focused on the macroeconomic data to be released later this week, which includes the US Gross Domestic Product (GDP) data. However, the price of silver declined and came down to $29.40 an ounce. In the previous session, it closed at $29.47 an ounce.
Gold futures prices rise
Gold prices in futures trading rose by Rs 37 to Rs 71,621 per 10 gram as speculators created fresh deals amid strong spot demand. On the Multi Commodity Exchange, the price of the contract for delivery in the month of August rose by Rs 37 or 0.05 per cent to Rs 71,621 per 10 gram. 14,654 lots were traded in it. Market analysts said that fresh buying by traders led to the rise in gold futures prices.
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