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Home » Business » Gold jumps Rs 506; silver zooms Rs 1,374

Gold jumps Rs 506; silver zooms Rs 1,374

The yellow metal had touched Rs 55,434 per 10 grams in the previous trade.

By Newsd
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Gold & Silver price February 5, 2021: Yellow metal price plunged, falls below Rs 50k after 65 days

Gold price in the national capital jumped Rs 506 to Rs 55,940 per 10 grams on Tuesday amid a rally in prices of the precious metal internationally, according to HDFC Securities.

The yellow metal had touched Rs 55,434 per 10 grams in the previous trade.

Silver also zoomed to Rs 1,374 to Rs 71,224 per kilogram.

”Comex spot gold price have resumed trading on a positive note in early Asian hours on Tuesday. Safe haven demand pushed yellow metal’s price higher,” said an analyst at HDFC Securities.

In the overseas market, gold was trading in green at USD 1,843 per ounce while silver was up at USD 24.37 per ounce.

”Gold prices inched higher hitting a six-month high as market’s attention turn to minutes from the US Federal Reserve’s latest policy meeting, due this week. Minutes from the Fed’s December policy meeting are due on Wednesday, which could offer hints on the central bank’s tightening path,” Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said.

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