Even today, if you are planning to buy gold or gold jewellery, then today’s news is for you only. The prices of gold and silver suddenly caught fire today and there was a strong increase in the prices. Gold has once again reached the threshold of Rs 56,000 per 10 grams, while silver prices are also coming around Rs 64,000 per kg.
Amid a firm global trend, gold prices rose by Rs 475 to Rs 55,955 per 10 grams in the national capital on Wednesday. In the last trading session, gold had closed at Rs 55,480 per 10 grams. However, silver declined by Rs 1,225 to close at Rs 63,825 per kg.
HDFC Securities Senior Analyst Saumil Gandhi said, “Spot gold prices in Delhi rose by Rs 475 to Rs 55,955 per 10 grams.” In the international market, gold rose to $ 1,833 an ounce, while silver was also up marginally at $21.04 an ounce. “Gold edged stronger above $1,830 an ounce on Comex in Asian trading hours on Wednesday as the dollar eased off its recent highs,” said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Gold futures rise
Gold prices on Wednesday rose by Rs 41 to Rs 55,797 per 10 gram in futures trade as speculators reduced their positions due to weak demand in the spot market. At the Multi Commodity Exchange, the contracts for delivery in April traded higher by Rs 41, or 0.07 per cent, at Rs 55,797 per 10 grams. There was a turnover of 11,276 lots.
Silver shines in futures prices
Silver prices on Wednesday rose by Rs 227 to Rs 64,010 per kg in futures trade as traders widened their holdings amid strong demand in the spot market. On the Multi Commodity Exchange, silver contracts for delivery in March advanced by Rs 227, or 0.36 per cent, to Rs 64,010 per kg in a business turnover of 242 lots.