According to recent reports, Gold Prices in the capital of the nation rose Rs 274 to Rs 51,909 per 10 grams today. This happened amidst firm global trends.
In the previous trade, the price of Gold settled at Rs 51,635 per 10 grams.
Additionally, even the price of Silver levitated Rs 448 to Rs 55,682 per kg. In the previous trade Silver stood at Rs 55,234 per kg.
On the other hand, in the International market, Gold was seen to be trading higher at USD 1,749 per ounce. Contrary to that, Silver was trading at USD 19.11 per ounce.
Senior analyst of HDFC securities, Tapan Patel, mentioned that Gold prices recovered on weaker dollar and ease in US bond yields.
This came in along with Nifty50 rising for the second straight session today on Wednesday. Analysts is of the view that as long as the 50-pack index trades above the 17,350 level, it will trade range bound with a positive bias. They asserted that a fall below this level will attract selling pressure.
A range bound movement was noticed after a pullback rally with the placement of a small positive candle beside the long positive candle of the previous session. A Technical Analyst of HDFC Securities, Nagaraj Shetti, stated that it suggests a lack of seling interest in the last couple of seasons, following the sharp reversal on the downside on August.
