Gold prices rose by Rs 600 on Thursday, reaching Rs 89,450 per 10 grams in the national capital, operating with strong global market trends. The yellow metal with 99.9% purity was closed at Rs 88,850 per 10 grams on the first Wednesday.
Similarly, gold of 99.5% purity saw an increase of Rs 600, which was more than Rs 88,450 before the first day of its previous record high, Rs 89,050 per 10 grams. According to a report by news agency PTI, earlier this year, on 20 February, gold prices also briefly killed these peak levels.
In the last trading session, silver also saw significant benefits to reach an altitude of about five months from Rs 1,01,200 per kg, reaching Rs 1,000.
In the Futures Market, gold contracts for April delivery also increased, which increased by Rs 210 (0.24%) to reach Rs 86,896 per 10 grams during the evening session on multi. commodity Exchange,
“Gold prices were inspired by the demand for safe haveon, by cooler-to-appent. American consumer inflation Data, which strengthened the expectations of further monetary ease by the Federal Reserve this year. “Saumil Gandhi, senior analyst of HDFC Securities, said.
On the international front, Spot Gold climbed USD 11.67 (0.40%), reaching 2,946.44 USD per ounce.
Traders are now focused on upcoming US economic data, including weekly unemployed claims and manufacturer price index (PPI), which can provide more information in inflation views and affect market trends.
Disclaimer: The opinion, analysis and recommendations expressed here are of brokerage and do not reflect the views of the Times of India. Always consult a qualified investment advisor or financial planner before taking any investment decision.
