Gold rose by Rs 294; Silver falls by Rs 170
According to HDFC Securities, gold rose by Rs 294 to Rs 47,442 per 10 grams in the national capital on Friday in line with the rise in the precious metal prices internationally. In the previous trade, gold had closed at Rs 47,148 per 10 grams. Conversely, silver fell by Rs 170 to Rs 66,274 per kg from Rs 66,444 per kg in the previous trade.
In the international market, gold was trading higher at $ 1,830 an ounce and silver was flat at $ 25.57 an ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices witnessed strong buying after selling in dollar post FOMC meeting. Dollar index slipped to four-week low, prompting buying in the yellow metal. “
“Gold prices traded higher and are set for their biggest weekly gain in more than two months, as the US Fed governor struck a softer tone and traded higher,” said Navneet Damani, vice president (commodity research), Motilal Oswal Financial Services. Cold water poured in. On fears about a hike in rates and early taping, therefore boosting the safe-haven appeal.”
(with PTI inputs)
Read also | Gold demand in India up 19.2% in April-June: WGC
Read also | Gold price today: Gold fell by Rs 123, silver by Rs 206
.