Gold prices rose by Rs 318 to Rs 54,913 per 10 grams in the national capital on Wednesday amid strong global trends, according to HDFC Securities.
In the previous trade, the precious metal closed at Rs 54,595 per 10 grams.
Silver also climbed Rs 682 to Rs 69,176 per kg.
”The gold price was steady in the Asian trading session after prices surged to a more than five-month high in the previous session on the back of softer-than-expected US consumer inflation,” said Dilip Parmar, Research Analyst at HDFC Securities.
In the international market, gold was trading in green at USD 1,808.2 per ounce while silver was up at USD 23.70 per ounce.
”After the release of the CPI data, the dollar index dropped more than 1 per cent to a nearly six-month low; whereas benchmark U.S. Treasury 10Y yield also slipped. The market’s focus now shifts to Fed’s rate hike decision, which is scheduled to be announced later today,” Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services said.
