Gold Rate Today, Silver Rate Today ,There was a significant rise in the prices of both gold and silver in the Indian bullion market on Thursday. While the price of gold increased by Rs 500 per ten grams, the price of silver increased by Rs 400 per kg. Experts of HDFC Securities say that the rise in the prices of precious metals in the global market is the major reason for the rise in the prices of gold and silver in the domestic market. There are indications from the international market that this upward trend will continue in the coming days.
Gold and silver price in Delhi
Gold price in the country’s capital Delhi (Gold Rate Today) closed at Rs 72,350 per 10 grams with a rise of Rs 500 on Thursday, which had closed at Rs 71,850 per 10 grams during the previous trading session. Similarly, silver also increased by Rs 400 and closed at Rs 83,500 per kg on Thursday, whereas in the last trading session, the closing rate of silver was Rs 83,100 per kg. On May 1, the country’s commodity markets were partially closed due to Maharashtra Day and Labor Day.
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There are bullish signals from foreign markets: Saumil Gandhi
According to Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities, due to bullish signals from foreign markets, the price of 24 carat spot gold increased by Rs 500 per 10 grams in the Delhi market on Thursday. Talking about the global market, gold was being sold in Comex at a price of 2,304 US dollars (USD) per ounce, which is 16 US dollars more than the previous closing price. Saumil says that the decision of the US Federal Reserve not to change the interest rates is also a reason for this rise on Thursday. Apart from this, US Fed chief Jerome Powell also failed to present any blueprint for reducing interest rates in future. Due to this, the interest of traders in gold increased even more. Apart from this, after the two-day policy meeting of the Federal Open Market Committee (FOMC), a fall in US Treasury yields and the US dollar was also seen, which further strengthened gold.
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Waiting for employment data: Trivedi
In the global market, silver was also seen trading with an increase of $ 26.45 per ounce compared to the closing price of $ 26.39 per ounce. Future prospects on gold and silver (Gold OutlookTalking about ) Jatin Trivedi, Vice President and Research Analyst (Commodity and Currency), LKP Securities, says that investors are now waiting for the employment and unemployment data related to the non-agricultural sector of America, due to which the prices of gold and silver. There will be more indications about future trends.
