A salesman shows gold necklaces to a customer at a jewellery showroom in Kolkata in this file photo. (Reuters Photo)
A salesman shows gold necklaces to a customer at a jewellery showroom in Kolkata in this file photo. (Reuters Photo)

Gold prices start the week at 48,332 per 10 gram, fall to 48,861

Gold price was up in the national capital on Monday with a recovery in international prices and rupee depreciation, according to HDFC Securities.
By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON JAN 23, 2021 11:19 AM IST

Gold prices rose by 117 to 48,332 per 10 grams in Delhi on Monday but snapped its gain on Friday over a weak trend in the international market. The price of the precious metal rose in the national capital on Monday with a recovery in international prices and rupee depreciation, according to HDFC Securities. The precious metal had closed at 48,215 per 10 grams in the previous trade. Silver also jumped by 541 to 64,657 per kg from 64,116 per kg in the previous trade.

The rupee depreciated by 21 paise to 73.28 against the US dollar on Monday. In the international market, both gold and silver were trading in the green at $1,834 per ounce and $25 per ounce respectively.

On Tuesday, gold gained again following a rally in international precious metal prices, according to HDFC Securities. Gold gained 198 to 48,480 per 10 gram in the national capital. In the previous trade, it had closed at 48,282 per 10 gram.

Silver also marched higher by 1,008 to 65,340 per kilogram from 64,332 per kilogram in the last trade. Both gold and silver were quoting gains at $1,843 per ounce and $25.28 per ounce, respectively, in the international market.

Gold gained for the third day on Wednesday rising 347 to 48,758 per 10 gram in the national capital in line with rally in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at 48,411 per 10 gram. Silver also witnessed buying as it gained 606 to 65,814 per kg from 65,208 per kg in the previous trade.

In the international market, both gold and silver were quoting with gains at $1,854 per ounce and $25.28 per ounce, respectively.

"Gold prices edged higher, reacting to US Treasury Secretary nominee Janet Yellen's plans to fight the coronavirus-induced economic crisis with big spending," Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, told PTI.

According to HDFC Securities, gold price on Thursday jumped 575 to 49,125 per 10 gm in the national capital amid firm global market trend. The precious metal had closed at 48,550 per 10 gm in the previous trade. Silver also shot up by 1,227 to 66,699 per kg, compared to the previous close of 65,472.

"Spot gold prices for 24 karat gold in Delhi rallied for the fourth consecutive day by 575 in line with surge in COMEX (New York-based commodity bourse) gold prices," HDFC Securities senior analyst (Commodities) Tapan Patel said, according to PTI. Gold prices surged on easy monetary policy from major central banks, while the dollar headed for the fourth straight day decline on stimulus hopes, Patel added, according to the news agency.

Gold prices on Friday slipped by 263 to 48,861 per 10 grams in the national capital due to a weak trend in the international market, according to HDFC Securities. The precious metal had closed at 49,124 per 10 gm in the previous session.

Silver prices also declined from 806 to 66,032 per kilogram, compared with the previous close of 66,838 per kg. Gold was trading weaker at $1,861 an ounce and silver was also down at $25.52 an ounce in the international market.

"Following weaker COMEX (New York-based commodity bourse), spot prices for 24 karat gold in Delhi lowered by 263 per 10 gm, pausing three-day winning streaks," a senior analyst of HDFC Securities was quoted as saying by PTI.

(With PTI inputs)

SHARE THIS ARTICLE ON
Topics
Close
The Twitter App loads on an iPhone in this illustration photograph(Reuters)
The Twitter App loads on an iPhone in this illustration photograph(Reuters)

Twitter expects annual revenue to double in 2023

Reuters
PUBLISHED ON FEB 25, 2021 08:46 PM IST
The social network expects to reach at least 315 million monetizable daily active users (mDAU) by the fourth quarter of 2023.
Close
World Bank President David Malpass said “a prominent risk for some of the countries at the bottom, and that has to do with the difficulty of getting new investment,”(Reuters)
World Bank President David Malpass said “a prominent risk for some of the countries at the bottom, and that has to do with the difficulty of getting new investment,”(Reuters)

Debt crisis threatens developing nations, says World Bank head

Bloomberg
PUBLISHED ON FEB 25, 2021 08:19 PM IST
World Bank President David Malpass spoke before the start of a meeting of finance ministers and central bankers from the Group of 20 biggest economies on Friday.
Close
Sebi has sought data from exchanges to ascertain any irregular patterns, according to a person with direct knowledge of the matter.(PTI File Photo)
Sebi has sought data from exchanges to ascertain any irregular patterns, according to a person with direct knowledge of the matter.(PTI File Photo)

Sebi to issue guidelines related to environmental, social, corporate governance

PTI, New Delhi
PUBLISHED ON FEB 25, 2021 06:49 PM IST
Tyagi noted that certain unique trends have emerged in the wake of the pandemic.
Close
Market experts say NSE was more to blame and brokers have their hands tied in such situations. (ANI Photo)
Market experts say NSE was more to blame and brokers have their hands tied in such situations. (ANI Photo)

India's top brokerage Zerodha faces investor fury after stock exchange glitch

Reuters, Mumbai
PUBLISHED ON FEB 25, 2021 06:15 PM IST
Hundreds of traders who bought stocks via Zerodha voiced concern on Twitter, with many posting pictures showing portfolio losses due to trades squared off by the broker.
Close
The <span class='webrupee'>₹</span>4,633 crore IPO of Indian Railway Finance Corporation (IRFC) was subscribed 3.49 times on the final day of bidding on Wednesday.(Mint Archive)
The 4,633 crore IPO of Indian Railway Finance Corporation (IRFC) was subscribed 3.49 times on the final day of bidding on Wednesday.(Mint Archive)

IPOs this fiscal largely from companies resilient to pandemic: Sebi chairman

PTI
PUBLISHED ON FEB 25, 2021 06:13 PM IST
"Every IPO saw a good amount of subscription with every issue being oversubscribed by atleast more than 2 times. Six of the total 18 IPOs, that is 1/3rd of the total number of IPOs were oversubscribed more than 100 times. Of these 6 IPOs, 5 were oversubscribed around or over 150 times," Tyagi said.
Close
Telecom instability affected NSE’s online risk management system (PTI File Photo)
Telecom instability affected NSE’s online risk management system (PTI File Photo)

Day after NSE disruption, India stocks advance on expiry day

Bloomberg
PUBLISHED ON FEB 25, 2021 05:57 PM IST
The NSE Nifty 50 Index climbed 0.8% to 15,097.35 in Mumbai, a day after the bourses
Close
After introducing special subscriptions for mobile, Netflix aims at South Korea to increase its subscribers.(Bloomberg)
After introducing special subscriptions for mobile, Netflix aims at South Korea to increase its subscribers.(Bloomberg)

Netflix plans $500 million spending in Korea to crack Asia

Bloomberg
PUBLISHED ON FEB 25, 2021 05:49 PM IST
The Los Gatos, California-based company has identified South Korea as one of the keys to its success in Asia, a vast region home to more than half of the world’s population.
Close
Reddit discussion threads were buzzing again about GameStop on Thursday, with members exhorting others to pile into the stock as the rally gathers steam.(REUTERS)
Reddit discussion threads were buzzing again about GameStop on Thursday, with members exhorting others to pile into the stock as the rally gathers steam.(REUTERS)

GameStop rally builds after puzzling ice-cream cone tweet

Posted by Kunal Gaurav | Reuters
PUBLISHED ON FEB 25, 2021 05:35 PM IST
The latest moves build on Wednesday's rally in GameStop and other so-called "stonks" favoured by retail traders on social media sites such as Reddit's WallStreetBets.
Close
Boosting revenue has been Chief Executive Bill Winters' main headache in recent years, as slowing growth in many of the bank's key markets, a commodities downturn and low central bank rates all conspired to crush income.(Bloomberg)
Boosting revenue has been Chief Executive Bill Winters' main headache in recent years, as slowing growth in many of the bank's key markets, a commodities downturn and low central bank rates all conspired to crush income.(Bloomberg)

Standard Chartered restores dividend, reaffirms goals as Covid-19 halves profit

Reuters, Hong Kong
PUBLISHED ON FEB 25, 2021 03:57 PM IST
The Asia, Africa and Middle East-focused bank however warned that income in 2021 is likely to be close to last year, showing the challenge it faces to meet its modest profit goals in a world of rock-bottom interest rates.
Close
Sensex opened 100 points higher at 49,860 while Nifty traded above 14,700.(ANI)
Sensex opened 100 points higher at 49,860 while Nifty traded above 14,700.(ANI)

Sensex jumps 257 points at 51,039.31; Nifty gains 115.35 points

PTI, New Delhi, Mumbai
UPDATED ON FEB 25, 2021 04:06 PM IST
  • The 30-share BSE index ended 257.62 points or 0.51 per cent higher at 51,039.31.
Close
Hitting maximum deliveries is crucial for Tesla in order for CEO Elon Musk to meet his ambitious goal of selling 20 million cars a year by 2030.(REUTERS)
Hitting maximum deliveries is crucial for Tesla in order for CEO Elon Musk to meet his ambitious goal of selling 20 million cars a year by 2030.(REUTERS)

Tesla temporarily halts production at Model 3 line in California

Bloomberg
PUBLISHED ON FEB 25, 2021 03:36 PM IST
  • Workers on a Model 3 production line in Fremont were told their line would be down from Feb. 22 until March 7
Close
Chinese Foreign Ministry spokesman Zhao Lijian speaks during a daily briefing at the Ministry of Foreign Affairs office in Beijing.(AP)
Chinese Foreign Ministry spokesman Zhao Lijian speaks during a daily briefing at the Ministry of Foreign Affairs office in Beijing.(AP)

China says Biden's bid to shift US supply chains is 'not realistic'

Bloomberg
UPDATED ON FEB 25, 2021 03:23 PM IST
  • China dismissed efforts to shift US supply chains toward alternative sources as unrealistic, hitting back hours after President Joe Biden signed an order to review how America buys strategic goods.
Close
Finance Minister Nirmala Sitharaman also spoke about the successful dissemination of Covid vaccines to around 100 countries and highlighted the role played by the private sector in helping project India's image as a 'global friend'.
Finance Minister Nirmala Sitharaman also spoke about the successful dissemination of Covid vaccines to around 100 countries and highlighted the role played by the private sector in helping project India's image as a 'global friend'.

'Private sector has to be involved in India's growth story': FM Sitharaman

Posted by Prashasti Singh | ANI, Bengaluru
UPDATED ON FEB 25, 2021 03:10 PM IST
Finance Minister Nirmala Sitharaman also emphasized the need for involvement and participation from the private sectors in order to meet these demands.
Close
Workers sit on cotton bales being transported. The bales were packed into 42 wagons and sent to the neighbouring country via Kolkata.(REUTERS)
Workers sit on cotton bales being transported. The bales were packed into 42 wagons and sent to the neighbouring country via Kolkata.(REUTERS)

Kalahandi exports high quality cotton to Bangladesh

PTI, Bhawanipatna
PUBLISHED ON FEB 25, 2021 01:48 PM IST
This is for the first time on Wednesday when the Cotton Corporation of India (CCI) exported cotton to Bangladesh through a goods train from Junagarh Road railway station in the district.
Close
The very large rebound incorporates the view that recovery in activity will continue, with the rollout of vaccines and growing confidence in the market.(Bloomberg)
The very large rebound incorporates the view that recovery in activity will continue, with the rollout of vaccines and growing confidence in the market.(Bloomberg)

Moody's projects 13.7 pc growth in FY'22, expects 7 pc contraction this fiscal

PTI, New Delhi
PUBLISHED ON FEB 25, 2021 01:35 PM IST
For current fiscal, the US-based rating agency expects the economy to contract 7 per cent, lower than its previous estimate.
Close
SHARE
Story Saved
OPEN APP