/financial-express-hindi/media/media_files/Q0OefRqt5i5W8appaf13.jpg?w=1200&resize=1200,675&ssl=1 "Gold Price Today: Gold rose by Rs 80, silver rose by Rs 100, impact of global market trends")
Gold Price, silver rate today:In the Indian bullion market, the prices of both gold and silver closed higher on Wednesday. The impact of international market trends was also seen on the local market. On Wednesday, gold prices in the local market rose by Rs 80 to Rs 72,430 per 10 grams. According to HDFC Securities, this increase has happened due to strong trends in the international market. On Tuesday, the price of gold closed at Rs 72,350 per 10 grams.
Gold, silver prices rise
HDFC Securities research analyst Saumil Gandhi said that the price of 24 carat spot gold in Delhi markets closed at Rs 72,430 per 10 grams, which is Rs 80 more than the previous close. Silver prices also rose by Rs 100 to Rs 91,400 per kg. In the previous trading session, it closed at Rs 91,300 per kg.
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In the international markets, spot gold on Comex was trading higher by US $ 8 at US $ 2,327 an ounce. At the same time, silver prices also rose to US $ 29.40 an ounce, which was at US $ 29.35 an ounce in the previous trading session.
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Impact of weak US retail data
According to Saumil Gandhi, “Gold witnessed marginally positive trade on Wednesday, driven by relatively weak US retail sales data.” Further, Jitin Trivedi, Vice President, Research Analyst (Commodity and Currency), LKP Securities, said, “The US Fed is still maintaining a tough stance on interest rate cuts, but the recent US Consumer Price Index (CPI) and retail sales data indicate that interest rate cuts may be considered in the coming days, especially in view of the US elections likely to be held in the second half of 2024.”
