Gold increased above thousand rupees, crossed 73000; Silver also at record high

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Gold increased above thousand rupees, crossed 73000; Silver also at record high
Gold increased above thousand rupees, crossed 73000; Silver also at record high

Gold Silver Latest Rate Today: Demand for gold as a safe investment option supported the rise in precious metals following increased tensions in West Asia and the possibility of Iran retaliating against the Israeli attack on its embassy in Syria. Apart from this, silver also rose sharply to reach $ 28.95 per ounce. In the last session it had closed at $ 28.05 an ounce.

Gold Silver Latest Rate Today: Amidst the bullish trend in the global markets, gold and silver prices continued to rise for the fourth consecutive trading session in the bullion market of the national capital on Friday. Gold crossed the level of Rs 73,000 per 10 grams with a rise of Rs 1,050. HDFC Securities gave this information.

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According to HDFC Securities, gold prices in Delhi rose by Rs 1,050 to an all-time high of Rs 73,350 per 10 grams. In the last session it had closed at Rs 72,300 per 10 grams. Similarly, the price of silver also jumped by Rs 1,400 to reach a new record high of Rs 86,300 per kg.

Saumil Gandhi, Research Analyst, HDFC Securities, said, ‘Taking cues from the strengthening trend in overseas markets, the spot price of 24 carat gold in Delhi markets was trading at a fresh record high of Rs 73,350 per 10 grams, which was more than the previous closing price. There is an increase of Rs 1,050 from Rs.

Commodity markets remained partially closed on Thursday on the occasion of Eid-ul-Fitr. In the international market, Comex, spot gold was trading at $ 2,388 an ounce, which is $ 48 more than the previous closing price. Gandhi said that gold reached a new all-time high in the early hours of the European trading day on Friday.

Demand for gold as a safe-haven option supported the rise in precious metals following increased tensions in West Asia and the possibility of Iran retaliating against the Israeli attack on its embassy in Syria. Apart from this, silver also rose sharply to reach $ 28.95 per ounce. In the last session it had closed at $ 28.05 an ounce.

Meanwhile, in MCX futures trade, gold reached a high of Rs 72,828 per 10 grams during the day’s trade. The most traded June contract price of gold rose by Rs 1,037 to Rs 72,681 per 10 grams.

According to Praveen Singh, Associate VP, Fundamental Currency and Commodities at BNP Paribas Buy Sharekhan, upcoming macroeconomic data to be announced by Britain and Germany and trade data from China will provide further direction for gold prices. Singh said, ‘As expected, the European Central Bank (ECB) kept the benchmark rates unchanged, but indicated that it may cut the interest rate in June. ECB President Christine Lagarde indicated that the central bank may cut interest rates at its next policy meeting on June 6 due to growing confidence in low inflation.

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