Business news: Gold rose by Rs 180, silver strengthened by Rs 900

Amid strong signals in the international markets, the price of gold rose by Rs 180 to Rs 62,450 per 10 grams in the Delhi bullion market on Friday. In the previous trading session, gold had closed at Rs 62,270 per 10 grams. On Friday, silver also rose by Rs 900 to Rs 75,500 per kg, whereas during the last trading session it had closed at Rs 74,600 per kg.

HDFC Securities Senior Analyst (Commodity) Saumil Gandhi said, “In the Delhi bullion market, the spot price of 24 carat gold was seen trading up by Rs 180 at Rs 62,450 per 10 grams.”

In the global markets, the spot price of gold on Comex rose by $ 10 to $ 2,003 an ounce. At the same time, the price of silver also increased and it became $ 22.97 per ounce. In the last trading session, silver had closed at $ 22.50 an ounce. After weak US economic data, the dollar and treasury yields weakened, which boosted gold.

Navneet Damani, Senior Vice President (Commodity Research), Motilal Oswal Financial Services, said that traders are now focusing on the US Producer Price Index (PPI) data and comments from Federal Reserve officials to gauge the monetary policy interest rate cut. Have done.