Silver prices seem to take a spike ahead of Gold

Advertisement

The price of gold in the national capital Delhi stands at Rs 59,280 per 10 grams as of Wednesday. While on the other hand, the price of silver has raised by Rs 200 and currently comes up to Rs 71,500 per kilogram.

The Senior Analyst for commodities Saumil Gandhi, who works for HDFC Securities said that the prices of gold remained the same as on Wednesday as stated in the previous day in the Delhi markets and stays at Rs 59,280 per 10 grams.

While in the foreign markets, the price of gold has spiked up a little to $1,927.39 per ounce, which is a growth of $8. Meanwhile, America’s gold dealings were up 0.3 percent turning to $1,934.70. Silver dropped 0.6 percent to $22.81 per ounce and platinum’s prices increased by 0.1% standing at $915.70. Also, palladium got down to 0.3 percent and stayed at $1,238.86.

Advertisement

Due to the Federal Reserves June Policy meeting, the prices of Gold were rangebound in the manner of cautionary trading. While the manufacturing levels in the U.S. has lowered to 46.0, which was last seen when the country was recovering from the pandemic. However, the deflation in the factory gate prices has proved to be a positive sign for the economy.