New Delhi: Gold and silver prices hit fresh lifetime high levels for the third straight session on Wednesday, with the yellow metal breaching Rs 72,000 per 10 grams level in the national capital amid strong cues in the overseas markets, according to HDFC Securities.
Gold prices rose Rs 160 to hit its lifetime high of Rs 72,000 per 10 grams in the national capital. It had settled at a record Rs 71,840 per 10 grams on Tuesday.
Similarly, silver prices climbed Rs 200 to hit a record Rs 84,700 per kg. "Spot gold prices (24 carats) in the Delhi markets are trading at Rs 72,000 per 10 grams, up by Rs 160, amid a bullish trend in the overseas markets," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
In the international markets, spot gold was trading at USD 2,356 per ounce, up USD 6 from the previous close. Gold prices extended gains in the European trading hours on Wednesday, Gandhi said.
Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services, said, "Gold and silver continue to hover around the all-time high mark, as safe-haven demand for the metals remained upbeat amidst the geo-political tensions and in anticipation of more cues on US CPI inflation for March and interest rates".