Gold prices have surged once again in the bullion market of the national capital.
As per reports, the prices of the precious metal in the international market have been rising, which has led to an increase in its prices in India.
Details:
- Gold prices have gone up by Rs 450 per 10 grams in the bullion market of the national capital.
- With this rise, gold prices have reached Rs 61,300 per 10 grams, up from Rs 60,850 per 10 grams in the previous trade.
- Meanwhile, silver prices have declined by Rs 380 to Rs 77,400 per kg, according to HDFC Securities.
- Saumil Gandhi, Senior Analyst – Commodities, HDFC Securities said that gold prices rose due to an increase in international market prices.
- In the overseas market, gold was trading higher at $2,024 an ounce and silver was trading lower at $25.45 an ounce, as per Gandhi.
- Sriram Iyer, Senior Research Analyst at Reliance Securities said that Comex gold was trading higher in Asian trading hours on Tuesday due to investors awaiting the key US inflation report, which could influence the Fed’s next interest rate decision.
Conclusion:
The rise in gold prices may affect those who are planning to buy gold in the near future.
People may have to shell out more money for the same amount of gold due to the recent surge in prices.
On the other hand, those who are planning to sell gold may benefit from the increase in prices.
