Gold hits recent excessive of Rs 51,946, rises by Rs 475


New Delhi, July 24

Gold costs within the National Capital continued to hit new highs, rising by Rs 475 to Rs 51,946 per 10 gram on Friday, on the again of positive aspects within the worldwide costs of the valuable metallic and a rupee depreciation, based on HDFC Securities.

In the earlier commerce, it had closed at Rs 51,471 per 10 gram.

Silver, nevertheless, declined by Rs 109 to Rs 62,262 per kg, from Rs 62,371 per kg on Thursday.

“Spot gold prices for 24 karats in Delhi continued to hit new highs, rising by Rs 475, with recovery in international gold prices and a rupee depreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel mentioned.

The rupee slipped eight paise and settled at 74.83 towards the US greenback on Friday, as weak home equities and escalating tensions between the US and China weighed on investor sentiments.

In the worldwide market, gold was quoting increased at USD 1,897 per ounce and silver was buying and selling with marginal positive aspects at USD 22.70 per ounce.

Increased tensions between the US and China and worries over rising coronavirus circumstances are anticipated to extend safe-haven demand for the valuable metals, he mentioned. PTI



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