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Gold prices jumped by ₹395 to ₹55,540 per 10 grams in the national capital on March 10 amid strong global trends, according to HDFC Securities.
In the previous trade, the precious metal ended at ₹55,145 per 10 grams.
However, silver fell by ₹115 to Rs 62,095 per kg.
“Spot gold prices in the Delhi markets traded at ₹55,540 per 10 grams, up ₹395 per 10 grams,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.
In the overseas market, gold traded higher at $1,833 an ounce while silver fell to $20.09 an ounce.
“Gold prices edged higher as the dollar and US yields weakened after data showed weekly US jobless claims grew more than expected, prompting hopes that the a softening labor market could pave the way for less aggressive rate hikes from the US Federal Reserve,” Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services said.