Gold Price Today: Sharp rise in gold prices, silver at 32-month high; Here is the cheapest gold
Gold Price Today: Gold rose by Rs 280 to Rs 60,680 per 10 grams on Tuesday in the bullion market of the national capital Delhi amid a rise in the prices of the precious metal internationally. In the previous trade, gold had closed at Rs 60,400 per 10 grams. Silver also gained Rs 470 to Rs 74,950 per kg.
In Delhi markets, the spot price was trading at Rs 60,680 per 10 grams, up by Rs 280 per 10 grams. In the international markets, gold and silver were trading higher at $2,004 an ounce and $25.04 an ounce, respectively.
COMEX gold was trading in the green on Tuesday as US benchmark bond yields eased, while the dollar remained weak, said Sriram Iyer, Senior Research Analyst at Reliance Securities.
gold futures also strengthened
Due to strong demand in the spot market, speculators created fresh positions, due to which gold prices rose by Rs 367 to Rs 60,430 per 10 grams in futures trade on Tuesday. At the Multi Commodity Exchange, gold in June contract was trading higher by Rs 367, or 0.61 per cent, at Rs 60,430 per 10 grams in a business turnover of 18,394 lots.
Analysts said gold prices strengthened at futures trade in line with a firm global trend. Globally, gold was trading higher by 0.68 per cent at $2,017.40 an ounce in New York.
Silver at 32 month high
Silver prices rose by Rs 677 to Rs 75,000 per kg in futures trade on Tuesday as traders widened their holdings amid strong demand in the spot market. On the Multi Commodity Exchange, silver for delivery in May rose by Rs 677, or 0.91 per cent, to Rs 75,000 per kg, with a business turnover of 15,509 lots.
Analysts attributed the rise in silver prices to fresh buying by traders amid a positive trend in the market. Globally, silver traded higher by 0.74 per cent at $25.06 an ounce in New York.
