Gold rallies ₹1,400 to touch life-time high; silver zooms ₹1,860
The Hindu
Gold price rallied ₹1,400 to touch a life-time high of ₹60,100 per 10 grams; silver zoomed ₹1,860 to ₹69,340 per kilogram
Gold price rallied ₹1,400 to touch a life-time high of ₹60,100 per 10 grams in the National Capital on March 21 amid strong global trends, according to HDFC Securities.
The precious metal had ended at ₹58,700 per 10 grams in the previous trade.
Silver also zoomed ₹1,860 to ₹69,340 per kilogram.
“Spot gold prices in the Delhi markets traded at ₹60,100 per 10 grams, up ₹1,400 per 10 grams,” Saumil Gandhi, Senior Analyst-Commodities at HDFC Securities, said. In the overseas markets, both gold and silver were trading higher at $2,005 per ounce and $22.55 per ounce, respectively.
Comex Gold prices traded higher in Asian trading hours on March 20 and rose to a fresh 52-week high of $2,005 per ounce, Mr. Gandhi said.
“Bullions continue surge, with gold on domestic front hitting a new life-time high of over ₹60,000, as a wave of banking crises shook global markets and put bullion on track for its biggest weekly rise in three years, while bets solidified for a less aggressive Fed in its fight against inflation,” Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services, said.
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