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Thursday, February 9, 2023

Gold rises Rs 352; silver rallies Rs 1,447

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NEW DELHI, Dec 1 (PTI): Gold price rose Rs 352 to Rs 53,677 per 10 grams in the national capital on Thursday amid strong global trends, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 53,325 per 10 grams.

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Silver also rallied Rs 1,447 to Rs 65,003 per kilogram.

“Spot gold prices in the Delhi markets traded higher amid stronger physical gold demand,” said Dilip Parmar, research analyst at HDFC Securities.

We believe there will be good demand from jewellers till December 15 amid marriage seasons, Parmar added.

In the international market, gold was trading higher at USD 1,778.6 per ounce while silver was up at USD 22.25 per ounce.

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“Gold and silver prices posted one of their biggest monthly gains, after US Federal Reserve chair Jerome Powell’s speech reinforced expectations of smaller interest rate hikes ahead,” Navneet Damani, senior VP – commodity research at Motilal Oswal Financial Services, said.

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The Hills Times, a largely circulated English daily published from Diphu and printed in Guwahati, having vast readership in hills districts of Assam, and neighbouring Nagaland, Meghalaya, Arunachal Pradesh and Manipur
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