New Delhi: Gold rose by Rs 430 to reach a new record high of Rs 50,920 per 10 grams in the Delhi Bullion market on Wednesday amid rising prices of precious metals in the international market. In the previous trading session, gold had closed at Rs 50,490 per 10 grams. Silver also touched a high of Rs 60,400 per kg with a sharp rise of Rs 2,550.
Its closing price on Tuesday was Rs 57,850 per kg. HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “The 24-carat gold spot price in Delhi touched a new record high of Rs 430. This is in line with the international market trend. ” Gold was quoted at $ 1,855 an ounce in the international market, while silver rose to $ 21.80 an ounce.
He said that yellow metal buying here also increased after the international spot price of gold crossed $ 1,850 an ounce on Wednesday. “The rise in Coronavirus infection cases in the US has led to increased buying by bullion for safe investment options,” Patel said.