Gold prices rose Rs 100 to Rs 62,750 per 10 grams in the national capital on Monday amid strong cues in the overseas markets, according to HDFC Securities.
In the previous trade, the yellow metal had ended at Rs 62,650 per 10 grams.
Silver also jumped Rs 350 to Rs 77,950 per kilogram.
“Gold prices edged higher on Monday, in the Delhi markets trading at Rs 62,750/10 gram, up by Rs 100 against the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the futures trade, February contract of gold declined Rs 162 to Rs 62,030 per 10 grams on the MCX. However, March contact of silver climbed Rs 153 to Rs 74,678 per kg on the bourse.
In the global markets, gold and silver were trading higher at USD 2,024 per ounce and USD 24 per ounce, respectively.
Spot gold at Comex was trading at USD 2,024 per ounce, up USD 5 from its previous close in the international markets.
Navneet Damani, Senior VP of commodity research at Motilal Oswal Financial Services, said, “Gold price continue to trade higher, extending a push above key levels on the back of US Fed’s stance they were done with raising interest rates, and will consider rate cuts in 2024, which sparked steep losses in the dollar and Treasury yields.”
