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Business News/ Markets / Commodities/  Gold jumps 980; silver up 3,790 in Delhi ahead of Dussehra

Gold jumps ₹980; silver up ₹3,790 in Delhi ahead of Dussehra

Gold prices in the national capital jumped ₹980 to ₹51,718 per 10 grams amid a rally in the prices of the precious metal in the international market, according to HDFC Securities

Gold prices in the national capital jumped ₹980 to ₹51,718 per 10 grams on TuesdayPremium
Gold prices in the national capital jumped 980 to 51,718 per 10 grams on Tuesday

The gold prices in the national capital rose by 980 on Tuesday to 51,718 for 10 grams amid a rise in the price of precious metals on the international market, according to HDFC Securities.

Supply, demand, and investor behavior all play a role in determining the price of gold. However, expectations of future supply and demand are taken into account when calculating current gold prices.

Experts are of the opinion that price volatility will be higher when there is less information available.It is an agreement between participants in the market to buy and sell gold at a fixed price or to maintain market conditions to control supply and demand and keep the price at a certain level.

In the previous trade, the precious metal had settled at 50,738 per 10 grams.

Silver prices zoomed by 3,790 to 61,997 per kg from 58,207 per kg.

In the international market, gold was trading in green at USD 1,710 per ounce while silver was up at USD 20.99 per ounce.

"Comex gold soared the most since March, helped by a continued decline in US treasury yields and the dollar index, as the rate market is pricing-in peak after dull US manufacturing readings," Dilip Parmar, Research Analyst at HDFC Securities, said. 

Gold prices are fixed at London Bullion Market Association on a daily basis (business day) at 10:30 am and 3pm (London time).

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Published: 04 Oct 2022, 08:28 PM IST
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