New Delhi: The continuing decline in the price of gold came to an end on Thursday. According to HDFC Securities, the spot price of 24-carat gold rose by Rs 743 to Rs 52,508 per 10 grams in the national capital on Thursday. In the previous session, gold had closed at Rs 51,765 per 10 gram level. Similarly, a tremendous increase in demand for silver was recorded on Thursday. Due to this, the price of silver in Delhi saw a huge jump of Rs 3,615 and its price reached Rs 68,492 per kg. In the previous session, the precious metal had closed at Rs 64,877 per kg.
HDFC Securities Senior Analyst (commodities) Tapan Patel said, "Due to optimism associated with economic growth, there was a lot of pressure on gold prices ...".
lobally, gold is trading at a low of $ 1,946 an ounce. At the same time, silver was priced at $ 27.38 an ounce.
Navneet Damani, Vice President (Commodities Research), Motilal Oswal Financial Services, said, "Gold prices recovered on Thursday after climbing by one percent in the previous session due to the weakening of the US dollar. This is because investors are waiting for Fed Chairman Jerome Powell's speech.
Gold Price in Futures Trading
Unlike the spot market, gold prices fell in the futures market. On the Multi Commodity Exchange, gold for delivery in October fell by Rs 279, or 0.54 per cent, to 51,500 per 10 grams. It traded for 15,250 lots. However, gold for December contract rose by Rs 282, or 0.54 per cent, to Rs 51,732 per 10 grams.
Silver price in futures market
On the Multi Commodity Exchange, silver for delivery in September fell by Rs 354, or 0.52 per cent, to Rs 67,175 per kg. It traded for 67,175 lots.