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Gold rallies Rs 382; silver zooms Rs 1,280

Business News. National, New Delhi, July 29:-Gold in the national capital on Thursday rallied by Rs 382 to Rs 46,992 per 10 gram amid a jump in international precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 46,610 per 10 gram.

Likewise, silver also jumped Rs 1,280 to Rs 66,274 per kilogram, from Rs 64,994 per kilogram in the previous trade.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Spot gold prices for 24 karat in Delhi rallied by Rs 382 reflecting gains in COMEX (New York-based commodity exchange) gold prices.”

In the international market, gold was trading with gains at USD 1,817 per ounce and silver was marginally higher at USD 25.42 per ounce.

Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, “Gold price edged higher, as the latest insistence from the US Fed governor that rate increases aren’t on the radar, put pressure on the dollar and support the safe-haven asset.

-NAV, Inputs: Agencies

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