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regular-article-logo Thursday, 30 May 2024

Gold and silver prices soar to fresh record high levels, tops Rs 74000 mark amid bull trend

Gold in the global market surged near a record high in the Asian trading hours on Friday, following reports that Israel had struck targets on Iranian soil, days after Iran had launched an attack on Israel in retaliation for a raid on its consulate in Syria

PTI New Delhi Published 20.04.24, 11:21 AM
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Gold and silver prices soared to fresh record high levels on Friday with the precious metal breaching the Rs 74,000 per 10 gram mark here on bullish global trends.

According to HDFC Securities, gold price jumped Rs 400 to hit its lifetime high of Rs 74,100 per 10 grams in Delhi. It had closed at Rs 73,700 per 10 grams on Thursday.

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Similarly, silver prices rose by Rs 100 to hit a new peak of Rs 86,600 per kg.

In Calcutta, however, where gold was already trading above the Rs 74,000 mark, the yellow metal fell by Rs 200 to Rs 74,150 per 10 grams from Wednesday’s price of
Rs 74,350, while silver dropped Rs 700 to Rs 83,400 per kg from Wednesday’s Rs 84,100 per kg.

“Spot gold prices (24 carats) in the Delhi markets are trading at a record high of Rs 74,100 per 10 grams, up by Rs 400 amid a positive trend in the overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the overseas markets, spot gold at Comex was trading at $2,390 per ounce, up by $15 from the previous close.

Gold in the global market surged near a record high in the Asian trading hours on Friday, following reports that Israel had struck targets on Iranian soil, days after Iran had launched an attack on Israel in retaliation for a raid on its consulate in Syria.

This has increased the possibility of a larger regional conflict that would support higher gold prices.

PTI

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