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Gold climbs Rs 150 to Rs 59,650/10 gm; silver rallies Rs 1,400

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NEW DELHI, Aug 24: Gold prices rose by Rs 150 to Rs 59,650 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 59,500 per 10 grams.

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Silver also rallied Rs 1,400 to Rs 76,700 per kg.

In the overseas market, both gold and silver were trading higher at USD 1,920 per ounce and USD 24.20 per ounce, respectively.

“Comex gold prices surged to a two-week high following weaker US macro data that reignited optimism that policymakers are nearing the end of monetary-tightening cycles.

“Treasury yields dipped further after weak US macro data on Wednesday, which also helped gold prices continue their march northward,” Saumil Gandhi, senior analyst, commodities at HDFC Securities, said. (PTI)

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