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Gold jumps Rs 1,130; silver rallies Rs 2,350

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NEW DELHI, Dec 14: Gold price jumped Rs 1,130 to Rs 62,950 per 10 grams in the national capital on Thursday amid strong trends in the global markets, according to HDFC Securities.

The precious metal had ended at Rs 61,820 per 10 grams in the previous close.

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Silver also rallied Rs 2,350 to Rs 77,400 per kilogram, while it had closed at Rs 75,050 per kg in the previous trade.

HDFC Securities’ senior analyst of commodities Saumil Gandhi said gold prices surged on Thursday in the Delhi markets trading at Rs 62,950/10 grams, up by Rs 1,130, following a bullish trend in the overseas markets.

In the futures trade, the February contract of gold climbed Rs 1,381 to Rs 62,580 per 10 grams on the MCX, while the March contract of silver bounced Rs 3,393 to Rs 74,925 per kilogram.

In the overseas markets, gold and silver were trading higher at USD 2,032 per ounce and USD 24 per ounce, respectively.

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Spot gold at Comex was trading at USD 2,032 per ounce, up by USD 51 from the previous close in the international markets.

Comex gold jumped as much as 2.5 per cent after the US Federal Reserve signalled for the first time that its aggressive monetary policy interest rate-raising campaign is over, expecting a series of cuts next year, Gandhi said.

Furthermore, a drop in the US Treasury yields and the dollar index also bolstered the gold prices, he added. (PTI)

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