New Delhi, Jul 21 (PTI) Gold prices rose by Rs 250 to Rs 99,020 per 10 grams in the national capital on Monday amid a pick-up in demand by stockists, according to the All India Sarafa Association.
On Friday, the precious metal of 99.9 per cent purity had closed at Rs 98,770 per 10 grams.
In the national capital, gold of 99.5 per cent purity advanced by Rs 250 to Rs 98,550 per 10 grams (inclusive of all taxes) on Monday. It had closed at Rs 98,300 per 10 grams in the previous market close.
Meanwhile, silver prices appreciated Rs 500 to Rs 1,11,000 per kilogram (inclusive of all taxes). On Friday, the white metal had ended at Rs 1,10,500 per kg.
Bullion traders said that pick-up in demand helped the rally in the precious metal.
Globally, spot gold rose by USD 15.16 or 0.45 per cent to USD 3,365.56 per ounce.
“Gold edged higher on Monday amid uncertainties related to US tariff policy and a pullback in the US Dollar, which provided support for precious metals prices,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.
Gandhi further stated traders will closely monitor the US trade agenda alongside key US macroeconomic data, including provisional PMI figures, weekly unemployment claims, and durable goods orders.
Additionally, spot silver went up 0.73 per cent to USD 38.47 per ounce in the overseas markets.
“Investors will closely track the US Federal Reserve Chair Jerome Powell’s speech for further cues on interest rate direction and in turn trajectory for the bullion prices in the near term,” Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said. PTI HG DR
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