New Delhi, May 16 (PTI) Gold prices increased by Rs 1,400 per 10 grams to Rs 96,450 in the national capital on Friday due to the purchase of fresh from jewelers and stockists.
The precious metal of 99.5 percent purity climbed from Rs 1,400 to Rs 96,000 per 10 grams (all taxes were included).
On Thursday, 99.9 percent and 99.5 percent purity closed at Rs 95,050 and Rs 94,600 per 10 grams respectively.
Show full article
Apart from this, on Friday, silver prices were appreciated by Rs 1,000 to Rs 98,000 per kg (incorporated of all taxes). In the last market session, the metal was increased to Rs 97,000 per kg.
Meanwhile, the international markets declined by spot gold 50.85 or 1.57 percent, which is the USD 3,189.25 an ounce.
VP Research Analyst in LKP Securities – Commodity and Currency, “Gold prices hopped near USD 3,200, reacting to markets for possible trade agreements between the UK and China like UK and China, such as UK and China, such as UK and China.”
Trivedi said, with further limited purchase speed in the bullion, with the absence of a dowish signal from the US Federal Reserve, immediate interest rate cuts.
Kotak Securities’ AVP of Commodity Research Kayanat Chenwala said that the market participants are waiting for American macroeconomic data, such as housing figures and Michigan Consumer Affairs and Inflation Report for the initial university May.
According to commodities experts, investors will be waiting later during the day after the remarks of Mary Daelly, a member of the US Federal Reserve. Data release and comment by dalley will provide more insight on the future course for the interest rate decision cycle. PTI HG HG SHW
This report is auto-generated with PTI News Service. ThePrint does not have any responsibility for its content.