Gold gains ₹135; silver drops ₹250
The Hindu
Gold rallied to ₹51,898 per 10 gram.
Gold rallied by ₹135 to ₹51,898 per 10 gram in the national capital on Thursday amid a rise in price of the metal in international market, according to HDFC Securities.
In the previous trade, the yellow metal had settled at ₹51,763 per 10 gram.
Silver, however, dropped by ₹250 to ₹61,618 per kg.
"Gold traded steady above the $1,680 level as market participants remain cautious ahead of the key U.S. inflation report to gauge the pace of the Federal Reserve’s future interest rate hikes," said Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services.
In the international market, gold was trading in the green at $1,709 per ounce while silver was flat at $21.05 per ounce.
"After registering steep rise on Monday, the U.S. gold has been consolidating for last two trading sessions, amid uncertainty over the U.S. mid-term elections and as markets awaited key inflation data from the country later in the day," said Vinay Rajani, Research Analyst at HDFC Securities.
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