Gold prices in Delhi saw a significant increase on Tuesday, rising by INR 506 (approximately $7) to INR 55,940 (approximately $770) per 10 grams, according to HDFC Securities.
The precious metal had previously been trading at INR 55,434 (approximately $764) per 10 grams. The rally in gold prices was driven by safe haven demand and a positive outlook in the international market, where gold was trading at $1,843 per ounce.
In addition, market attention is currently focused on the minutes of the US Federal Reserve’s latest policy meeting, which are set to be released on Wednesday and may provide insight into the central bank’s tightening path.
Silver prices also saw a sharp increase, rising to INR 71,224 (approximately $976) per kilogram.
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