New Delhi: Amid a firm global trend, gold on Thursday rose by Rs 450 to Rs 59,350 per 10 grams in the Delhi bullion market. HDFC Securities gave this information. In the previous trade, gold had closed at Rs 58,900 per 10 grams. Silver also gained Rs 815 to Rs 69,800 per kg. HDFC Securities Senior Analyst – Commodities Saumil Gandhi said, “Spot gold prices rose by Rs 450 to Rs 59,350 per 10 grams in Delhi markets.”
In overseas markets, gold and silver were trading higher at $1,975 an ounce and $22.84 an ounce, respectively. Gold prices gained after the US Federal Reserve’s expected interest rate hike of 25 basis points suggested that it is on the verge of stopping future hikes given the recent turmoil in the financial sector.
Navneet Damani, Senior Vice President, Commodity Research, Motilal Oswal Financial Services, said, “After the US Fed meeting, the dollar index fell to a one-week low of $101.6 against a basket of currencies, the US 10Y also declined by 3.5 per cent.” Slipped below level.” , Said.