August 15, 2020

Gold hits recent excessive of Rs 51,946, rises by Rs 475



New Delhi: Gold costs within the nationwide capital continued to hit new highs, rising by Rs 475 to Rs 51,946 per 10 gram on Friday, on the again of good points within the worldwide costs of the valuable steel and a rupee depreciation, based on HDFC Securities.

Within the earlier commerce, it had closed at Rs 51,471 per 10 gram.

Silver, nevertheless, declined by Rs 109 to Rs 62,262 per kg, from Rs 62,371 per kg on Thursday.

“Spot gold costs for 24 karats in Delhi continued to hit new highs, rising by Rs 475, with restoration in worldwide gold costs and a rupee depreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel stated.

The rupee slipped eight paise and settled at 74.83 in opposition to the US greenback on Friday, as weak home equities and escalating tensions between the US and China weighed on investor sentiments.

Within the worldwide market, gold was quoting increased at USD 1,897 per ounce and silver was buying and selling with marginal good points at USD 22.70 per ounce.

Elevated tensions between the US and China and worries over rising coronavirus instances are anticipated to extend safe-haven demand for the treasured metals, he stated.