Silver anklets in Salem in Tamil Nadu. File image for representation.
| Photo Credit: E. Lakshmi Narayanan

Silver prices hit a lifetime high levels of ₹97,100 in the local market on Wednesday, while gold prices rose ₹250 in line with strong trends in the overseas markets, according to HDFC Securities.

Continuing its winning run for the third straight session, silver soared ₹1,150 to ₹97,100 per kg. It had closed at ₹95,950 per kg on Tuesday.

In the futures trade, silver also hit a lifetime peak of ₹96,493 per kg on the Multi Commodity Exchange (MCX) on Wednesday.

Meanwhile, the gold prices climbed ₹250 to ₹73,200 per 10 grams in the national capital.

In the previous session, the precious metal prices had settled at ₹72,950 per 10 grams.

“Spot gold prices (24 carats) in the Delhi markets are trading at ₹73,200 per 10 grams, up ₹250 against the previous close,” Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said.

In international markets, spot gold at Comex was trading at $2,352 per ounce, up $6 from the previous close.

“Gold prices rose slightly on Wednesday, as safe haven demand following another attack on a ship in the Red Sea added to heightened geopolitical tensions in the Middle East.”

“However, hawkish comments from several U.S. Federal Reserve officials and a jump in U.S. Treasury yields limit the gains in precious metals,” Mr. Gandhi said.

Additionally, silver also traded higher at $32.05 per ounce. In the previous session, it ended at $31.50 per ounce. Spot silver prices have gained 35% this year to date, reaching 12-year highs.

“Gold price faced resistance at $2,355-2,360 level in Comex, and MCX Gold faced selling around ₹72,450.”

“Amid a rise in US dollar and upcoming Personal Consumption Expenditures (PCE) price index data on Friday, which will hint towards inflation projections, thus profit booking was seen in gold after a positive rally from ₹71,250 to 72,450 in last three trading sessions,” Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said.

On the MCX, the most traded July contract of silver gained ₹52 to trade at ₹95,500 per kg. However, gold contracts for June delivery were trading lower by ₹131, or 0.18%, to ₹72,049 per 10 grams on the bourse.

File image for representation.
| Photo Credit: PTI

Gold prices rose ₹150 to ₹62,850 per 10 grams in the national capital on Wednesday amid strong global cues in the overseas markets, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹62,700 per 10 grams.

Silver also climbed ₹100 to ₹75,700 per kilogram, while it had settled at ₹75,600 per kg in the previous close.

“Spot gold prices (24 carats) in the Delhi markets are trading at ₹62,850 grams, up by ₹150, amid a bullish trend in overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at $2,027 per ounce, up by $9 from the previous close.

Gold prices rose on Wednesday amid ongoing geopolitical uncertainty, which helps the safe haven metal and continues to boost the uptrend, Mr. Gandhi added.

Silver was trading higher at $23.06 per ounce, while it had ended at $23.01 per ounce in the previous trade.

“Market participants are eagerly awaiting the release of the U.S. Fed’s meeting minutes later on Wednesday, which could provide insights into future monetary policy decisions,” Jateen Trivedi, VP Research Analyst at LKP Securities, said.

Gold prices jumped ₹170 to ₹63,370 per 10 grams in the national capital on Wednesday amid gains in precious metal’s prices globally, according to HDFC Securities.

The yellow metal had closed at ₹63,200 per 10 grams in the previous trade.

However, silver plunged ₹300 to ₹74,600 per kilogram, while it had ended at ₹74,900 per kg in the previous close.

“Spot gold prices (24 carats) in the Delhi markets are trading at ₹63,370 per 10 grams, up by ₹170, taking bullish cues from the overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at $2,033 per ounce. However, silver was trading marginally lower at $22.24 per ounce.

Amid a pullback in the U.S. Treasury yields and dollar, gold prices rose on Wednesday, Gandhi added.

Gold prices fell ₹150 to ₹63,200 per 10 grams in the national capital on Tuesday amid bearish cues from the overseas markets, according to HDFC Securities.

The precious metal had closed at ₹63,350 per 10 grams in the previous close.

Silver also tumbled ₹600 to ₹74,900 per kilogram, while it had settled at ₹75,500 per kg in the previous trade.

“Spot gold prices (24 carats) in the Delhi markets are trading at ₹63,200 per 10 grams, down by ₹150, taking bearish cues from the overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the global markets, gold and silver were trading lower at $2,022 per ounce and $22.32 per ounce, respectively.

Gold prices on Friday rose ₹381 to ₹60,699 per 10 grams in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by ₹381 or 0.63 per cent at ₹60,699 per 10 grams in a business turnover of 15,051 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Globally, gold was trading 0.66 per cent higher at $1,993.50 per ounce in New York.

Gold price tumbled by ₹650 to ₹57,550 per 10 grams in the national capital on Tuesday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had ended at ₹58,200 per 10 grams.

Silver also nosedived ₹1,800 to ₹71,500 per kilogramme.

Gold and silver prices slipped on Comex in the previous session as the domestic market was shut on Monday, Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services, said.

In the overseas markets, both gold and silver were trading lower at $1,825 per ounce and $21.10 per ounce, respectively.

The Treasury bond yields have reached a new multi-decade high on the back of the U.S. Federal Reserve’s narrative in the past few week, that the interest rates would remain higher for longer, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

Gold closed at ₹58,950 per 10 grams in the previous trade. However, silver surged ₹1,200 to ₹74,300 per kilogram.
| Photo Credit: Reuters

Gold prices declined ₹250 to ₹58,700 per 10 grams in the national capital on September 29 amid a fall in precious metal prices overseas, according to HDFC Securities.

The yellow metal had closed at ₹58,950 per 10 grams in the previous trade. However, silver surged ₹1,200 to ₹74,300 per kilogram.

“Delhi spot gold prices fell to their lowest level since March 19, Saumil Gandhi,” senior analyst of commodities at HDFC Securities, said.

In the global markets, gold was trading lower at $1,871 per ounce, while silver was up at $23.05 per ounce. Gold have been trending lower since the beginning of the week, after the U.S. Federal Reserve’s hawkish signal that interest rates would remain higher for longer, Mr. Gandhi said.

 In the global markets, gold and silver were trading lower. File image for representation.
| Photo Credit: NAGARA GOPAL

Gold prices fell ₹150 to ₹60,050 per 10 grams in the national capital on Thursday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had finished at ₹60,200 per 10 grams.

Silver also declined ₹700 to ₹74,100 per kg.

In the global markets, gold and silver were trading lower at $1,917 per ounce and $23.05 per ounce, respectively.

Gold continue to decline for the third straight day as stronger-than-expected U.S. economic data triggers bets that the Federal Reserve could hike interest rates again this year, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.