New Delhi: Extending gains for second straight session, gold prices on Tuesday climbed by Rs 200 to Rs 72,450 per 10 grams in the national capital in line with firm trends in the global markets, according to HDFC Securities.
In the previous session, the precious metal had closed at Rs 72,250 per 10 grams.
Silver prices also jumped by Rs 700 to Rs 85,000 per kg.
It had settled at Rs 84,300 per kg in the previous session.
“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 72,450 per 10 grams, up by Rs 200, taking positive cues from the overseas markets,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at $2,319 per ounce, up by $7 from the previous close.
“Gold moved higher on indications that the US Federal Reserve could cut interest rates this year. The dovish remarks from the US policymakers have boosted hopes for the interest rate cuts.
Silver was also marginally up at $27.25 per ounce. It had ended at $27.05 per ounce in the previous session.