Gold prices rose Rs 495 to Rs 47,559 per 10 grams in the national capital on Tuesday, in line with a rally in the international market, according to HDFC Securities.
Bullion is rebounding after last weeks retreat to the lowest level since the start of December, when a stronger dollar and rising U.S. Treasury yields weighed on the haven asset that doesnt offer interest.
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Gold rises Rs 94; silver jumps Rs 340
Gold prices rose by Rs 94 to Rs 46,877 per 10 gram in the national capital on Monday, halting the five-day rally, supported by recovery in international prices, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 46,783 per 10 gram. Silver also jumped Rs 340 to Rs 68,391 per kg, from Rs 68,051 per kg in the previous trade.
In the international market, both gold and silver were trading with gains at USD 1,815 per ounce and at USD 27.16 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, Gold prices traded up from support levels on disappointing US payroll data and stimulus hopes.
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