Gold prices rise by Rs 71

Gold on Thursday rose Rs 71 to Rs 38,564 per 10 gram in the national capital reflecting overnight gains in international prices amid strengthening rupee, according to HDFC Securities.

The yellow metal had closed at Rs 38,493 per 10 gram on Wednesday.

“Spot gold prices for 24 karat in Delhi were trading up by Rs 71, reflecting overnight gains in international prices,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Gold prices traded steady with international spot gold prices traded near USD 1,475 on Thursday after rallying on Wednesday evening session. Prices extended gains after US Fed kept interest rates unchanged, he added.

Silver prices also jumped Rs 359 to Rs 44,984 per kg from the previous close of Rs 44,625 per kg.

The US Federal Reserve on Wednesday kept key interest rates unchanged with accommodative stance till 2020.

In the global market, gold prices were trading higher at USD 1,473 per ounce, while silver was quoting at USD 16.84 an ounce.

“The risk premium in gold prices will be high as the December 15 deadline of US tariffs on Chinese goods is getting nearer,” Patel added.