Gold prices in the national capital soared to a new record high on Monday, reaching Rs 64,300 per 10 grams after a significant increase of Rs 450, according to HDFC Securities. This surge in gold prices was attributed to strong global trends. In the previous trade, the precious metal had settled at Rs 63,850 per 10 grams. However, silver remained steady at Rs 80,200 per kilogram.
Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, commented on the situation, stating that “Gold prices extended gains on Monday, trading at a record high of Rs 64,300/10 gram, up by Rs 450 following a bullish trend in the overseas markets.”
In the international markets, gold was trading higher at USD 2,077 per ounce, while silver was down at USD 25.40 per ounce. Spot gold at Comex was trading at USD 2,077 per ounce, showing an increase of USD 6 from its previous close. Gandhi also noted that Comex gold reached a new all-time high on Monday, hitting an intra-day high of USD 2,146 per ounce in Asian trading hours due to increased geopolitical tension in the Middle East.
The surge in gold prices reflects the ongoing impact of global events on precious metal markets, demonstrating the continued relevance and significance of these commodities in the current economic climate.
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