Gold gains marginally; silver climbs by Rs 383

Gold gains marginally; silver climbs by Rs 383

New Delhi: Gold in the national capital on Monday rose marginally by Rs 35 to Rs 45,110 per 10 grams following healthy global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,075 per 10 grams.

Silver also jumped Rs 383 to Rs 59,138 per kg from Rs 58,755 per kg in the previous trade.

In the international market, gold was trading with gains at $1,755 per ounce and silver was flat at $22.60 per ounce.

“Gold prices traded higher on Monday on worries over China’s Evergrande debt crisis,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services, “Gold price edged higher after hovering below the $1,750 level in the previous week, as investors avoided riskier assets because of China’s Evergrande concerns, but looming interest rate hikes and rise in yields marking the highest level since July, slowed bullion‘s advance.”

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