Due to these reasons gold increased by Rs 220, silver rose by Rs 1050

Gold and silver prices rose by Rs 220 to Rs 72,820 per 10 grams in the national capital on Monday due to a strong trend in foreign markets amid rising tensions in West Asia. According to HDFC Securities, gold had closed at Rs 72,600 per 10 grams in the previous session.

During this period, silver also rose by Rs 1,050 to Rs 92,850 per kg. In the last session it had closed at Rs 91,800 per kg. Saumil Gandhi, senior analyst (commodity), HDFC Securities, said, “The spot price of 24 carat gold in Delhi bullion market rose by Rs 220 to Rs 72,820 per 10 grams.

In foreign markets, spot gold price on Comex rose by nine dollars to $2,344 an ounce. Gandhi said gold trade started on a positive note, supported by a weak US dollar and increased geopolitical tensions in West Asia following Israel’s air strikes in Rafah, which made the yellow metal a safe haven investment option. Demand for metal increased.

Apart from this, silver was also seen trading sharply at $ 30.75 per ounce in the global market. On Monday, gold prices seemed stuck in a range, because the markets of America and Britain are closed on Monday.