Gold prices surge to record high amid tensions in Middle East, silver rises 3%
₹50 to reach ₹68,370 per 10 grams in the domestic market on Tuesday, influenced by subdued patterns in the global markets, according to HDFC Securities. During the last trading session, the valuable metal concluded at ₹68,420 per 10 grams.
“Gold prices remained positive, experiencing a minor gap-up opening above 2250$ in Comex and above ₹68500 with a ₹150 gap-up in MCX. Dovish commentary from global banks spurred buying activity in gold, with expectations of interest rate cuts keeping prices firmly under bullish control.
In the short term, the 68200-68000 range acts as a strong positive zone for Gold, while resistance is seen around 69000-69200," said Jateen Trivedi, VP Research Analyst, LKP Securities. The price of silver increased by 3% to reach $25.86 per ounce, while platinum rose by 2.8% to $927.60, and palladium saw a climb of 1.1% to $1,007.52.
Meanwhile, on MCX, silver witnessed a surge of ₹430, reaching ₹79,000 per kg. In the preceding session, it had settled at ₹78,570 per kg.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
