Gold Price Today: Prices of yellow metal recorded significant gains today amid strong global trends and demands in the domestic markets due to the ongoing wedding season. The gold prices today rose by Rs 473 per 10 grams to Rs 54,195 per 10 grams in the national capital. The precious metal had settled at Rs 53,722 per 10 grams in the previous trade. Buoyed by the sentiments, silver also jumped by Rs 1,216 to Rs 66,064 per kg.
Dilip Parmar, Research Analyst at HDFC Securities told PTI that the signs of inflation coming down, weakness in the dollar index and good physical gold demand continue to support the domestic gold prices.
Navneet Damani, Senior VP, Commodity Research at Motilal Oswal Financial Services, said that gold and silver continue to trade in the positive zone as the dollar weakened on the prospect of slower rate hikes from the Federal Reserve.
According to experts, the gold will keep shining in December as well. The yellow metal has done well in November. According to reports, gold has picked up in price action rising by nearly $60 /oz in the last two weeks alone to trade around $1800 levels.
According to the repor, the metal looks set to extend recent gains, due to a combination of softer inflation prints, weaker economic data points, and a 90 per cent chance of the Fed hiking interest rates by 50 bps on December 14.
In Kolkata and Patna, the gold was priced at around Rs 53,600 per 10 grams while in Coimbatore, the yellow metal was priced at around Rs 52,800 per 10 grams. In Chennai, gold was priced at around Rs 53,100 per 10 grams.
(With agency inputs)
