Business Desk, Tech for FTCP, New Delhi
Updated Wed, 19 Aug 2020 05:25 PM IST
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In the global market, gold was trading at $ 1,988 an ounce, while silver was trading at $ 27.43 an ounce. In this context, HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “On Wednesday, there was a recovery in the dollar index, which affected gold prices.”
The price of gold and silver had increased so much yesterday
According to HDFC Securities, gold rose by Rs 1,182 to Rs 54,856 per 10 grams in the national capital on Tuesday due to the rise in international prices of the yellow metal. Talking about silver, the price of silver rose by Rs 1,587 to Rs 72,547 per kg yesterday. In the international market, gold was trading at $ 2,005 an ounce and silver was trading at $ 28.15 an ounce.
This year, the price of gold in Indian markets has risen by almost 40 per cent, reflecting the rise in global rates and the fall in the rupee against the US dollar. The corona virus has affected the global economy. Gold prices rose due to support for the economy by central banks and governments and a spurt in haven demand.