Gold inches closer to Rs 50,000 per 10 grams

Gold in the national capital zoomed Rs 647 to Rs 49,908 per 10 grams in line with gains in the international prices of the precious metal, according to HDFC Securities.

New Delhi: Gold in the national capital zoomed Rs 647 to Rs 49,908 per 10 grams on Wednesday in line with gains in the international prices of the precious metal, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 49,261 per 10 gram.

Silver also jumped Rs 1,611 to Rs 51,870 per kg, from Rs 50,259 per kg on Tuesday.

"Spot gold prices for 24 karat gold in Delhi recorded hefty gains by Rs 647 reflecting gains in international gold prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold was trading with gains at USD 1,788 per ounce and silver at USD 18.34 per ounce.

Gold prices extended rally on Wednesday as growing coronavirus cases boosted buying in gold on safe-haven demand, he added.

(PTI Report)