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Gold jumps Rs 110; silver rallies Rs 1,000

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NEW DELHI, Aug 22: Gold jumped Rs 110 to Rs 59,410 per 10 grams in the national capital on Tuesday amid strong cues in overseas market, according to HDFC Securities.

In the previous trade, the yellow metal had closed at Rs 59,300 per 10 gram.

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Silver also rallied Rs 1,000 to Rs 74,500 per kg.

In the international markets, both gold and silver were trading higher at USD 1,897 per ounce and USD 23.25 per ounce, respectively.

“Gold prices rebounded, helped by a weaker dollar index and safe-haven demand.

“Gold sellers trimmed their positions due to factors such as increased risk aversion in the market after S&P followed by Moody’s in downgrading and cutting the outlook for a slew of US banks,” Saumil Gandhi, senior analyst, Commodities at HDFC Securities, said. (PTI)

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