Gold & Silver

Gold jumps ₹462 on global cues, silver soars ₹1,047

PTI New Delhi | Updated on February 19, 2020 Published on February 19, 2020

The strong demand from wedding season and rally in global gold prices pushed spot prices higher for the day, according to an analyst. File Photo   -  BusinessLine

Wedding season and rally in global gold prices pushed spot prices higher

Gold prices on Wednesday jumped ₹462 to ₹42,339 per 10 grams in the national capital on positive global cues, according to HDFC Securities. Silver prices also surged ₹1,047 to ₹48,652 per kg, from ₹47,605 per kg on Tuesday. The yellow metal had closed at ₹41,877 per 10 grams in the previous trading session.

 

“Spot gold of 24 karat in Delhi crossed the ₹42,000 mark, gaining ₹462 with strong international prices. The strong demand from wedding season and rally in global gold prices pushed spot prices higher for the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Besides, gold also witnessed safe-haven buying after Apple Inc warned of missing its revenue forecast in the March 2020 quarter due to the coronavirus outbreak, Patel said. In the international market, both gold and silver were trading higher at USD 1,606.60 per ounce and USD 18.32 per ounce, respectively.

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Published on February 19, 2020
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