Gold jumps ₹411; silver gains ₹338

Gold rallied by ₹411 to ₹47,291 per 10 gram; Silver gained ₹338 to ₹68,335 per kilogram

Gold rallied by ₹411 to ₹47,291 per 10 gram in the national capital on April 19 reflecting strong buying in the global precious metal and rupee depreciation, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹46,880 per 10 gram.

Silver also gained ₹338 to ₹68,335 per kilogram from ₹67,997 per kilogram in the previous trade.

The Indian rupee slumped 52 paise to 74.87 against the U.S. dollar in opening trade on April 19.

In the international market, gold was trading with gains at $1,787 per ounce and silver was quoting marginally higher at $26.08 per ounce.

“Gold prices rallied on weaker dollar and fall in U.S. bond yields,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services, “Gold continues to edge higher, hovering near a seven-week peak hit in the previous session, as a softer dollar and a retreat in U.S. Treasury yields boosted demand for the bullions.”

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