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Gold rises Rs 241, silver features Rs 161 on competition shopping for

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Gold costs on Friday rose Rs 241 to Rs 50,425 per 10 gram on competition shopping for on account of the auspicious event of Dhanteras and Diwali, in keeping with HDFC Securities.

The treasured steel had closed at Rs 50,184 per 10 gram within the earlier commerce.

Silver additionally gained Rs 161 to Rs 62,542 per kg, in contrast with Rs 62,381 per kg on Thursday, in keeping with HDFC Securities.

Dhanteras is an auspicious day for purchasing gold, silver and different valuables.

In the world market, gold was buying and selling with features at USD 1,880 per ounce and silver was flat at USD 24.32 per ounce.

Navneet Damani, vice-president (commodities analysis) at Motilal Oswal Financial Services, stated “Gold prices traded steady, as fears of an economic impact due to surge in global cases of COVID-19 countered optimism from development in a potential vaccine.”

He added that there’s a lot of panic out there as coronavirus circumstances in lots of states of the US have doubled, elevating the bets for safe-haven steel.

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