Gold jumps ₹650; silver climbs ₹600

gold Price jumped ₹650 to ₹60,700 per 10 gram in the national capital on Wednesday amid strong global trends, according to HDFC Securities.

The precious metal had ended at ₹60,050 per 10 gram in the previous trade.

Silver also climbed ₹600 to ₹77,600 per kilogram.

Gold prices in the domestic market surged to their highest level since June 10, following a bullish trend in the overseas market, Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

In the global market, gold and silver were quoting higher at $1,978 per ounce and $25.05 per ounce, respectively.

Comex gold rose to a seven-week high as investors considered mixed US economic data that could impact inflation as well as the possibility that the country’s interest rates will peak earlier than anticipated.

Additionally, falling global bond yields following dovish commentary from a key European Central Bank official also boosted traders’ sentiment, Gandhi said.

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