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Gold rises by ₹300 to ₹80,300 per 10 gm on global cues
1 min read | Updated on January 09, 2025, 17:50 IST
SUMMARY
Gold prices rose ₹300 for the third consecutive session, reaching ₹80,300 per 10 grams in the national capital, driven by strong global cues, including China increasing its reserves. Silver also surged by ₹500 to ₹93,000 per kg. Analysts attributed the rise to weak macroeconomic data from China and a risk-off sentiment in the equity market, driving investors towards gold and silver.
The price of gold of 99.5% purity rose ₹300 to ₹79,900 per 10 grams on Thursday
Gold price climbed ₹300 for a third consecutive session to ₹80,300 per 10 grams in the national capital on Thursday amid strong global cues, according to the All India Sarafa Association.
Traders said the precious metal surged, following news that People's Bank of China (PBoC) increased its reserves for the second consecutive month.
In the previous session, the yellow metal of 99.9% purity ended at ₹80,000 per 10 grams.
The price of gold of 99.5% purity rose ₹300 to ₹79,900 per 10 grams on Thursday.
Silver rose by ₹500 to ₹93,000 per kg from the previous close of ₹92,500 per kg on Wednesday.
Additionally, gold contracts for February delivery climbed ₹247 or 0.32% to ₹77,994 per 10 grams in futures trade on the MCX.
In futures trade, silver for March delivery rallied ₹593 or 0.65% to ₹91,531 per kg on the Multi Commodity Exchange (MCX).
Globally, Comex gold futures rose $10 per ounce or 0.37% to $2,682.40 per ounce.
Comex silver futures increased 0.83% in the Asian market hours at $30.95 per ounce.
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