Gold rises for fourth consecutive day, gains Rs 277
Silver prices also jumped Rs 694 to Rs 65,699 per kilogram from Rs 65,005 per kilogram in the previous trade.
New Delhi: Gold prices rose for the fourth consecutive day on Monday, gaining Rs 277 to Rs 52,183 per 10 gram in the national capital on a strong global trend, according to HDFC Securities.
In the previous trade, the yellow metal had closed at Rs 51,906 per 10 gram.
Silver prices also jumped Rs 694 to Rs 65,699 per kilogram from Rs 65,005 per kilogram in the previous trade.
In the international market, gold was quoting with gains at USD 1,960 per ounce, while silver was trading flat at USD 25.75 per ounce.
“Gold prices traded higher after Joe Biden won the US Presidential election which boosted hopes for more stimulus and coronavirus aid package,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Gold prices also witnessed buying on worries over rising COVID-19 cases, he added.
Navneet Damani, VP – Commodities Research at Motilal Oswal Financial Services, said, “Gold prices edged higher in early morning session, propped up by a weaker dollar and hopes of more stimulus measures under US President-elect Joe Biden.”
