New Delhi: Gold and silver prices continued to hit new highs, rising by Rs 905 and Rs 3,347 respectively, in line with the rally in international market. Following the fresh highs, gold crossed the Rs 52,000 per 10 gm mark for the first time and touched an all-time high of Rs 52,960 on the Multi-Commodity Exchange (MCX). Also Read - Gold Price in Delhi Surges by Rs 185, Silver Price Jumps Rs 1672
Joining the rally, Silver zoomed by Rs 3,347 to Rs 65,670 per kg from Rs 62,323 per kg in the previous trade. In the international market, gold was quoting higher at USD 1,935 per ounce, while silver was trading with gains at USD 24 per ounce. Also Read - Gold Price Today June 11: Gold Prices Rise by Rs 477, Silver Rises by Rs 26
Notably, silver prices have rallied sharply during the year and have added over 35 per cent gains. Further upward momentum could push the prices higher towards life-time highs of above Rs 74,000 per kg, said Navneet Damani, VP-Commodities Research, Motilal Oswal Financial Services. Also Read - Gold Prices Rise by Rs 75 to Rs 33,195 Per 10 Gram on Local Buying
“Spot gold prices for 24 carat in Delhi continued to hit new highs, witnessing a jump of Rs 905 with rally in international prices,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said, adding that gold prices traded higher on concerns over sluggish economic recover.
(With agency inputs)