Gold costs rose by Rs 278 to Rs 46,013 per 10 grams within the nationwide capital on Monday, supported by restoration in worldwide costs at the same time as rupee appreciation capped the worth of the dear steel, in line with HDFC Securities. The yellow steel had closed at Rs 45,735 per 10 grams within the earlier commerce.
In tandem, silver costs witnessed a rise of Rs 265 to Rs 68,587 per kg on Monday, in contrast with its earlier shut of Rs 68,322.
HDFC Securities Senior Analyst (Commodities) Tapan Patel mentioned, “Spot gold prices for 24 carat gold at Delhi traded up by Rs 278 reflecting gains in global gold prices despite of sharp rupee appreciation.”
The Indian rupee gained 16 paise and settled at 72.49 towards the US greenback on Monday.
In the worldwide market, gold was buying and selling decrease at USD 1774 an oz, whereas silver was additionally down at USD 26.94 an oz.
Gold costs traded agency on greenback decline and weak fairness indices on pandemic worries. Gold costs managed to carry assist at USD 1760 per ounce rebounding on cut price shopping for, Patel mentioned.
“We expect gold prices to trade sideways to up for the day with COMEX spot gold support lies at USD 1760 and resistance at USD 1800. MCX Gold April support lies at Rs 45,900 and resistance lies at Rs 46,600,” he famous.