Gold jumps Rs 500; silver rallies Rs 1,000

Gold price jumped Rs 500 to Rs 60,650 per 10 grams in the national capital on Wednesday amid strong global cues in international markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs 60,150 per 10 grams.

“Gold prices jumped on Wednesday, following a positive trend in the overseas market,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

Silver also surged Rs 1,000 to Rs 74,700 per kilogramme.
In the global markets, both gold and silver were trading higher at USD 1,937 per ounce and USD 23.10 per ounce, respectively. Comex gold surged to its highest level in four weeks as demand for safe-haven assets intensified after the Middle East turmoil widened, with hopes for a diplomatic resolution deteriorating after a deadly explosion in Gaza, Gandhi said.

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