Comments
Gold price jumped ₹650 to ₹60,700 per 10 gram in the national capital on Wednesday amid strong global trends, according to HDFC Securities.
The precious metal had ended at ₹60,050 per 10 gram in the previous trade.
Silver also climbed ₹600 to ₹77,600 per kilogram.
Gold prices in the domestic market surged to their highest level since June 10, following a bullish trend in the overseas market, Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
In the global market, gold and silver were quoting higher at $1,978 per ounce and $25.05 per ounce, respectively.
Comex gold rose to a seven-week high as investors considered mixed US economic data that could impact inflation as well as the possibility that the country's interest rates will peak earlier than anticipated.
Additionally, falling global bond yields following dovish commentary from a key European Central Bank official also boosted traders' sentiment, Gandhi said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.