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Gold prices see a mixed week, end at Rs Rs 49,678 per 10 gram

Gold prices within the nationwide capital of Delhi noticed a mixed week because it rose three days monitoring international cues and ended marginally decrease. According to HDFC Securities, gold prices gained Rs 185 to Rs 49,757 per 10 gram in Delhi on Monday, in keeping with the rally within the value of the valuable steel globally. In the earlier commerce, the yellow steel had closed at Rs 49,572 per 10 gram. Silver prices additionally jumped Rs 1,322 to Rs 68,156 per kilogram from Rs 66,834 per kilogram within the earlier commerce.

Gold was buying and selling with positive aspects at $1,885 per ounce and silver was additionally quoting within the inexperienced at $26.32 per ounce within the worldwide market. “Gold prices gained amid dollar decline. Concerns over the new strain of coronavirus and lockdowns have also lifted gold prices,” HDFC Securities senior analyst (commodities) Tapan Patel was quoted as saying by information company PTI.

On Tuesday, gold prices rose marginally by Rs 39 to Rs 49,610 per 10 gram within the nationwide capital, persevering with the upside for the third consecutive day, in keeping with the rally in worldwide prices of the valuable steel, in line with HDFC Securities.

In the earlier commerce, the yellow steel had closed at Rs 49,571 per 10 gram. Silver prices additionally gained marginally as they rose by Rs 36 to Rs 68,156 per kilogram from Rs 68,120 per kilogram within the earlier commerce.

“Spot gold price for 24 carat in Delhi was up Rs 39, continuing the upside for the third day in line with a recovery in COMEX gold prices, while the stronger rupee has kept upside limited,” HDFC Securities’ Patel informed PTI.

The rupee added one other 11 paise to commerce at 73.38 in opposition to the US greenback within the opening session on Tuesday. In the worldwide market, gold was buying and selling larger at $1,883 per ounce, whereas silver was quoting flat at $26.26 per ounce. “Gold prices rose on Tuesday as the dollar eased,” Navneet Damani, vice chairman of commodities analysis at Motilal Oswal Financial Services, informed PTI.

The subsequent day, gold was marginally down by Rs 16 to Rs 49,484 per 10 gram in Delhi amid a stronger rupee, in line with HDFC Securities. The treasured steel had closed at Rs 49,500 per 10 gram within the earlier commerce.

However, silver gained Rs 205 to Rs 67,673 per kilogram from its earlier shut of Rs 67,468 per kilogram. The rupee appreciated by 9 paise to 73.33 in opposition to the US greenback in opening commerce on Wednesday. In the worldwide market, Gold was quoting marginally up at $1,879 per ounce, and silver was flat at $26.22 per ounce.

“Gold prices gained as the dollar index fell from yesterday. Worries over economic recovery on pandemic fears have supported bullion prices to trade firm,” in line with HDFC Securities’ Patel.

HDFC Securities stated gold prices gained Rs 235 to Rs 49,675 per 10 gram within the nationwide capital on Thursday. In the earlier commerce, the yellow steel had closed at Rs 49,440 per 10 gram. Silver additionally went up by Rs 273 to Rs 67,983 per kilogram from Rs 67,710 per kilogram within the earlier commerce.

In the worldwide market, each gold and silver had been buying and selling flat at $1,894 per ounce and $26.52 per ounce, respectively.

“Gold prices have kept range-bound trading during the week on lack of important economic data and mixed global cues. Worries over economic recovery on pandemic fears have supported bullion prices to trade firm limiting downside,” HDFC Securities’ Patel informed PTI.

On New Year’s day on Friday, gold was marginally down Rs 20 to Rs 49,678 per 10 gram within the nationwide capital, in line with HDFC Securities. The treasured steel had closed at Rs 49,698 per 10 gram within the earlier commerce. Silver additionally declined Rs 404 to Rs 67,520 per kilogram from Rs 67,924 per kilogram within the earlier commerce. In the worldwide market, gold was quoting marginally decrease at $1,895 and silver was flat at $26.34.

“Gold prices have kept range-bound trading during the week on lack of important economic data and mixed global cues. Lower volumes due to holiday weekend may keep bullion trades choppy for the day,” HDFC Securities’ Patel was quoted as saying by PTI.

(With PTI inputs)

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