Gold climbs Rs 350; silver rises Rs 200

Gold prices climbed by Rs 350 to Rs 59,050 per 10 grams in the national capital on Thursday amid positive global cues, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 58,700 per 10 grams.

“Gold prices advanced further on Thursday, following positive trade in the overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

Silver also jumped Rs 200 to Rs 73,200 per kg.
In the global markets, gold and silver were quoting higher at USD 1,880 per ounce and USD 22.15 per ounce, respectively. Gold surged to the highest level this month after the 10-year US Treasury yield continued to retreat from the 16-year highs reached last week, with markets pricing that the Federal Reserve may be finished with interest-rate hikes for the year, Gandhi said.

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This article was originally published by Indiatimes.com. Read the original article here.