Gold price rises 116 tracking strong global trends

Gold price rises 116 tracking strong global trends

Gold in the national capital on Thursday jumped Rs 116 to Rs 39,630 per 10 gram riding high on strong international trends, according to HDFC Securities.

The precious metal had in the previous trade closed at Rs 39,514 per 10 gram.

Silver also witnessed demand as prices rose by Rs 454 to Rs 48,060 per kg compared to the previous close of Rs 47,606 per kg.

Spot gold for 24 Karat in Delhi gained Rs 116 on strong international peers and pick-up in wedding demand, HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.

In the international market, gold rose to USD 1,504 per ounce and silver at USD 17.94 per ounce.

"Global investors have remained cautious ahead of Christmas and New Year holidays on prevailing economic and political uncertainties expecting possible profit-booking in equity indices in early 2020," he added.