Gold Silver Price: On Thursday, the price of 99.5 percent pure gold increased by Rs 500 to Rs 80,900 per 10 grams. In the last trading session, it closed at Rs 80,400 per 10 grams.
Gold Silver Price: Amid fresh buying by jewelers and retail sellers and a fall in the rupee, the price of gold in Delhi’s bullion market has risen by Rs 500 to Rs 81,300 per 10 grams. This is its two-month high level and the All India Sarafa Association has given this information. On Wednesday, the price of gold closed at Rs 80,800 per 10 grams. Today, on Thursday, the price of 99.5 percent pure gold increased by Rs 500 to Rs 80,900 per 10 grams. In the last trading session, it closed at Rs 80,400 per 10 grams.
Strong jump in the price of silver
The price of silver also increased by Rs 2,300 to Rs 94,000 per kg, which had closed at Rs 91,700 per kg on Wednesday.
What is the condition of gold and silver in the global market
Globally, Comex gold futures rose by $19.70 per ounce to $2,737.50 per ounce. Comex silver futures were also trading 1.28 per cent higher at $31.94 per ounce during Asian market hours.
What are commodity experts saying
Jatin Trivedi, Vice President and Research Analyst (Commodity and Currency), LKP Securities, said that the rise in Comex gold in the international markets came after the release of the US CPI data for December, which was as per expectations. Jatin Trivedi said that however, lower than expected core CPI inflation has given additional support to gold prices. The soft inflation rate data has strengthened expectations of the Federal Reserve continuing to cut rates, which has accelerated the rise in gold.
HDFC Securities Senior Analyst (Commodities) Saumil Gandhi said market participants will keep an eye on important US macroeconomic data like retail sales and Philadelphia Fed manufacturing index to be released on Thursday, which can help in giving further direction to bullion prices.
Weakness recorded in rupee
On Thursday, the rupee weakened by 16 paise to close at 86.56 (provisional) against the US dollar. The rupee has declined due to the strengthening of the dollar abroad, high crude oil prices and withdrawal of foreign money.
