Tuesday, July 16, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. Markets
  5. Gold ends four-day losing streak, gains Rs 250 amid strong global cues on Dhanteras

Gold ends four-day losing streak, gains Rs 250 amid strong global cues on Dhanteras

Gold prices rose on Friday, with spot gold prices in the Delhi markets trading at Rs 61,200/10 grams, up by Rs 250 against the previous close.

Edited By: Anurag Roushan @Candid_Tilaiyan New Delhi Published on: November 10, 2023 18:04 IST
Gold prices
Image Source : FILE The image has been used for representation purpose only.

Amid strong global cues, gold prices recovered sharply by Rs 250 to Rs 61,200 per 10 grams in Delhi on Friday - ending its four-day losing streak on Dhanteras. In the previous trade, the precious metal had finished at Rs 60,950 per 10 grams.

"Gold prices rose on Friday, with spot gold prices in the Delhi markets trading at Rs 61,200/10 grams, up by Rs 250 against the previous close," HDFC Securities' Senior Analyst of commodities Saumil Gandhi said.

Sliver also witnesses rise

Meanwhile, silver also rebounded Rs 700 to Rs 74,000 per kilogram. In domestic markets, gold retail demand is likely to increase amid the festival season, Gandhi said.

In the overseas market, gold and silver were up at USD 1,956 per ounce and USD 22.65 per ounce, respectively.

"Traders believe the trajectory of gold prices will be closely monitored, with the upcoming Consumer Price Index (CPI) data next week, expected to provide crucial insights into the interest rate cycle," Jateen Trivedi, VP Research Analyst at LKP Securities, stated. 

ALSO READ: Dhanteras 2023: What is the auspicious time to buy gold? Know here

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business and Markets Section

Advertisement
Advertisement
Advertisement
Advertisement