If you too were thinking of getting gold and silver jewelry made, then today this news is for you only. There has been a strong rise in the prices of gold and silver on Thursday. According to information received from HDFC Securities, there has been a rise in the prices of precious metals including gold and silver in markets around the world. Its impact was also visible on the Delhi bullion market.
How much gold and silver prices increased
According to traders, gold rose by Rs 323 to Rs 53,039 per 10 grams on Thursday. In the previous trading session, gold had closed at Rs 52,716 per 10 grams. Silver also advanced by Rs 639 to Rs 62,590 per kg.
Gold became costlier due to the soft stance of the Federal Reserve
Navneet Damani, Senior Vice President, Commodity Research, Motilal Oswal Financial Services, said, “The minutes of the Federal Reserve meeting show that the central bank’s stance is less aggressive than expected. After this signal, gold and silver prices recovered from the day’s low and closed with gains after the dollar declined against major currencies of the world. Gold rose to $ 1,755.75 an ounce in the international market and silver rose was trading at $21.55 an ounce.
What do experts say
Dilip Parmar, Research Analyst, HDFC Securities, said, “Gold prices on Comex gained for the third consecutive day after the details of the latest meeting of the US Federal Reserve supported to reduce the pace of interest rate hike.” After the details of the Federal Reserve meeting, the price of gold has returned rapidly and it is moving towards $ 1,800 an ounce.