In the previous trade, the yellow metal had closed at Rs 50,148 per 10 grams.
Highlight
- Gold on Monday rose by Rs 429 to Rs 50,577 per 10 grams in the national capital.
- Silver also rose by Rs 775 to Rs 65,557 per kg from Rs 64,812 per kg on industrial demand.
- In the previous trade, the yellow metal had closed at Rs 50,148 per 10 grams.
Gold prices on Monday rose by Rs 429 to Rs 50,577 per 10 grams in the national capital on inflation concerns after Western nations imposed sanctions on Russia for attacking Ukraine, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 50,148 per 10 grams.
Silver also rose by Rs 775 to Rs 65,557 per kg from Rs 64,812 per kg earlier on increased industrial demand.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices rose along with gains in Comex Gold. Gold prices rose on inflation concerns after western countries imposed sanctions on Russia including boycotting SWIFT transaction system. Speeding up.”
Patel said, “US bond yields fell to 1.90 per cent, prompting a pick-up in gold buying. The escalation of the Ukraine crisis may support gold prices in the short term. Reaction to the developments in Russia-Ukraine talks on Monday.” While gold prices may remain volatile.”
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