Gold jumps by Rs 196, silver climbs to Rs 59,608

Gold jumps by Rs 196, silver climbs to Rs 59,608

New Delhi: Gold rose by Rs 196 to Rs 45,746 per 10 gram in the national capital on Wednesday amid firm global cues and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,550 per 10 gram.

Silver jumped Rs 319 to Rs 59,608 per kg from Rs 59,289 per kg in the previous trade.

The rupee depreciated by 26 paise to 73.87 against the US dollar on Wednesday.

In the international market, gold was trading in the green at $1,776 per ounce and silver was flat at $22.72 per ounce.

“The speculation ahead of the US FOMC (Federal Open Market Committee) and uncertainty over China’s Evergrande crisis has sent mixed cues to the market boosting buying in bullion,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, “Bullions edged higher as unease over China’s Evergrande insolvency and OECD’s lower growth forecast for 2021 spurred safe-haven buying, ahead of the US Fed policy meet.”

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