Gold rises Rs 94; silver jumps Rs 340
Gold prices rose by Rs 94 to Rs 46,877 per 10 gram in the national capital on Monday, halting the five-day rally, supported by recovery in international prices, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 46,783 per 10 gram. Silver also jumped Rs 340 to Rs 68,391 per kg, from Rs 68,051 per kg in the previous trade.
In the international market, both gold and silver were trading with gains at USD 1,815 per ounce and at USD 27.16 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices traded up from support levels on disappointing US payroll data and stimulus hopes.”
Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, “Gold prices edged higher on as weaker-than-expected US jobs data re-ignited concerns over a recovery in the world’s largest economy, pressuring the dollar and boosting bullion’s appeal.”
(With PTI Inputs)