Gold dearer by Rs 348 tracking global trend; silver gains by Rs 936

News

NEW DELHI: Gold in the national capital on Monday rose by Rs 348 to Rs 47,547 per 10 gram following a strong global trend, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 47,199 per 10 gram.

Silver also zoomed Rs 936 to Rs 71,310 per kilogram from Rs 70,374 per kilogram in the previous trade.

In the international market, gold was trading with gains at USD 1,853 per ounce and silver was trading flat at USD 27.70 per ounce.

“The yellow metal rose with a decline in US bond yields, ” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, “Gold prices continued to trade higher hovering near to around three-month highs, as a weaker dollar and a dip in US yields on the back of weak US economic data reported last week boosted metal’s appeal.”

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