Gold Silver Price Update: In the bullion market of Delhi on Monday, the price of gold increased by Rs 150 to Rs 79,350 per 10 grams. Whereas in the last trading session on Friday it closed at Rs 79,200. During this period, the price of gold with 99.5 percent purity also jumped by Rs 150 to Rs 78,950 per 10 grams, which was Rs 78,800 in the last trading session. Whereas silver remained stable at its previous closing price of Rs 91,700 per kg.
Traders said the upside potential for gold in the short term appears to be limited as investors mainly focus on Donald Trump’s tariff measures and economic policy, which could determine the precious metal’s movement in the new year.
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Bullion market expected to rise this week
Talking about the international market, the price of one ounce of gold in Comex fell by $ 5.70 and was trading at $ 2,626.20. However, the price of silver was stable at $ 29.96 an ounce during Asian trading hours.
JM Financial Services Commodity Research Vice President Pranav Mer said that gold prices may see continued strength this week, as there is a lack of new market catalysts. He also said that due to New Year holidays in the international market, major players are still away from business. Due to the rise in the dollar, there was some curb on the rise in bullion prices.
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Saumil Gandhi, Senior Commodity Analyst, HDFC Securities, said that on the macroeconomic front, barring manufacturing PMI data from Asia, Eurozone and the US, no major data is likely to come this week. Investors expect a quiet market with overall low trading volumes.
