3 weeks ago

Gold up Rs 2,000, silver surges Rs 5,200 in Delhi

Gold up Rs 2,000, silver surges Rs 5,200 in Delhi
Silver climbs Rs 5K, gold up by Rs 2K · thehansindia.com

Gold and silver are shiny metals that people like to buy and keep.

In India, their prices went up on Monday.

Gold became 2,000 rupees more expensive, so it now costs about 1,56,000 rupees for 10 grams.

Silver went up by 5,200 rupees, so one kilogram now costs about 2,40,000 rupees.

One reason is that the Indian rupee became weaker compared to other money.

Since gold and silver are brought into India from other countries, they cost more when the rupee is weak.

Gold prices went up for five days in a row.

Around the world, gold was almost unchanged and silver was a little higher.

Some people who watch these prices say investors are waiting for new inflation news from America.

Prices stayed high also because of worries about tensions in West Asia and hopes that the US central bank will be less aggressive.

Key facts

Gold price (99.9% purity)
Rs 1,56,000 per 10 grams
Previous gold close
Rs 1,54,000 per 10 grams
Silver price
Rs 2,40,000 per kilogram
Previous silver close
Rs 2,34,800 per kilogram
Global spot gold
$4,335.32 per ounce
Global spot silver
$63.90 per ounce
Gold gaining streak
Fifth consecutive session
Price data source
All India Sarafa Association

Quotes

Jateen Trivedi

VP Research Analyst - Commodity and Currency, LKP Securities

“Gold eased from its seven-week high on Monday as investors booked profits ahead of key US inflation data due later this week. Despite the mild pullback, bullion remained well supported by expectations of a less aggressive Federal Reserve and lingering geopolitical tensions in West Asia.”
thehansindia.com
“Gold traded positively in the domestic markets, while the yellow metal in global markets remained largely flat after the recent rally. Bullion prices continue to hold firm as investors await fresh macroeconomic triggers.”
thehansindia.com

Sources

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