Global Market Gold on Thursday rose by Rs 680 to Rs 73,500 per 10 gram in the national capital’s bullion market amid a firm trend in precious metal prices. Gold had closed at Rs 72,820 per 10 gram in the previous trading session. Silver prices also rose by Rs 1,400 to Rs 93,300 per kg. It had closed at Rs 91,900 per kg in the previous trading session.
Due to this the price returned
HDFC Securities Senior Commodity Analyst Saumil Gandhi said, “Spot gold (24 carat) in Delhi market rose by Rs 680 to Rs 73,500 per 10 grams amid signs of rise in foreign market.” Spot gold in the international market Comex was at $ 2,360 an ounce, which is $ 28 stronger than the previous closing price. Gandhi said that gold prices rose due to the fall in US bond yields and mixed US macroeconomic data. The European Central Bank may cut interest rates in its monetary policy meeting on Thursday, which may support gold prices. Silver also remained at $ 30.30 an ounce. In the previous trading session, it was at $ 29.75 an ounce.
Gold futures prices rise on spot demand
On Thursday, the price of gold rose by Rs 385 to Rs 72,903 per 10 gram in futures trading as speculators bought 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 385 or 0.53 per cent to Rs 72,903 per 10 gram. 16,840 lots were traded in it. Market analysts said that due to the strong trend in global markets, the gold futures prices rose. Globally, gold rose by 0.45 per cent to $ 2,386.30 per ounce in New York.
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