Gold jumps Rs 400 on wedding season demand

PTI
Thursday, 30 January 2020

"Spot gold of 24 karat in Delhi was trading higher by Rs 400 supported by wedding season demand and overall recovery in global gold prices. The busy wedding session in coming months may support spot gold prices to trade up," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

New Delhi: Gold prices on Thursday jumped Rs 400 to Rs 41,524 per 10 gram in the national capital helped by wedding season demand and overall recovery in global prices, according to HDFC Securities.

Silver prices also climbed Rs 737 to Rs 47,392 per kg from Rs 46,655 per kg on Wednesday.

In the previous trade, gold had closed at Rs 41,124 per 10 gram.

"Spot gold of 24 karat in Delhi was trading higher by Rs 400 supported by wedding season demand and overall recovery in global gold prices. The busy wedding session in coming months may support spot gold prices to trade up," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Meanwhile, the rupee opened on a weak note and declined by 19 paise to 71.47 against the dollar in opening trade on Thursday.

In the global market, both gold and silver were trading with gains at USD 1,582 per ounce and USD 17.72 per ounce, respectively.

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