3 weeks ago
Gold up Rs 2,000, silver surges Rs 5,200 in Delhi
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.
Gold prices rose for a fifth consecutive session, gaining Rs 2,000 to Rs 1,56,000 per 10 grams in New Delhi on Monday.
Silver surged Rs 5,200 to Rs 2,40,000 per kilogram, resuming its upward move after ending flat in the previous session.
Traders attributed the rise to depreciation in the rupee, which made imported bullion more expensive in domestic markets.
Internationally, spot gold traded marginally lower at $4,335.32 per ounce, while silver traded higher at $63.90 an ounce.
Analysts said bullion remained supported by expectations of a less aggressive Federal Reserve and lingering geopolitical tensions in West Asia.
- Who
- Gold and silver traders and investors in India; analysts Jateen Trivedi of LKP Securities and Gaurav Garg of Lemonn Markets Desk; price data from the All India Sarafa Association.
- What
- Domestic gold and silver prices rose, with gold climbing Rs 2,000 per 10 grams and silver surging Rs 5,200 per kilogram.
- Where
- New Delhi, India's national capital, with international spot markets also tracked.
- When
- Monday, marking gold's fifth consecutive session of gains and silver's return to upward movement.
- Why
- Depreciation of the rupee made imported bullion costlier, while global support came from expectations of a less aggressive Federal Reserve and West Asia geopolitical tensions.
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







