Gold prices in the national capital surged by Rs 500 to reach Rs 72,350 per 10 grams on Thursday, propelled by a global rally in precious metal rates, as reported by HDFC Securities. Meanwhile, silver also experienced an uptick, rising by Rs 400 to reach Rs 83,500 per kg. The bullish trend in Delhi’s spot gold prices mirrored the upward momentum in overseas markets, influenced by factors such as the US Federal Reserve’s decision to maintain interest rates and slow the pace of balance sheet reduction.
Additionally, uncertainty surrounding future interest rate reductions and declines in US Treasury yields and the US dollar further buoyed trader sentiment towards gold. Investors are now eagerly awaiting the release of Nonfarm Payrolls and unemployment data, which are expected to offer additional insights into the trajectory of bullion prices.
