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Tuesday, May 28, 2024

Gold climbs Rs 150 to Rs 60,250/10gms; silver remains flat

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NEW DELHI, Aug 31: Gold prices climbed Rs 150 to Rs 60,250 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities.

In the previous trade, the yellow metal had settled at Rs 60,100 per 10 grams.

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However, silver remained flat at Rs 77,500 per kilogram.

In the overseas markets, gold was trading higher at USD 1,945 per ounce, while silver was down at USD 24.53 per ounce.

“Gold prices were buoyed this week by a series of weak economic data releases from the US that pointed to slowing economic growth, causing traders to cut bets on a further rate hike.

“While treasury yields edged lower across the curve after second-quarter US GDP was revised lower and the dollar index fell to a two-week low in the previous session, helping the gold price to rally further,” Saumil Gandhi, senior analyst – Commodities at HDFC Securities, said. (PTI)

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