Gold jumps to ₹Rs 395; silver down ₹ 115

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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.

Author: Amit Kumar
Amit Kumar is a highly experienced financial expert with over 10 years of experience in banking and finance. He shares his insights on loans, finance, and business strategies through engaging articles on this Loan & Business site, offering practical advice for anyone seeking to improve their financial situation. Amit's mission is to empower his clients and readers to make informed financial decisions and achieve their financial goals.

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