Gold and silver prices at record levels for the second consecutive day, strength continues in foreign markets too

Tuesday's prices for gold and silver in Delhi, the nation's capital, continued to rise for the second day in a row amid a robust worldwide trend, hitting new all-time highs for both precious metals. Information provided by HDFC Securities.

At a new high of Rs 71,840 per 10 grammes, gold prices in the nation's capital increased by Rs 140. At Rs 71,700 per 10 grammes, gold closed on Monday. While on Monday silver had broken through the Rs 84,000 barrier for the first time, the price of silver also surged by Rs 500 to a new record high of Rs 84,500 per kg.

HDFC Securities Research Analyst Saumil Gandhi said, "Taking cues from the firm trend in overseas markets, the spot price of 24-carat gold in Delhi markets was trading at a new record high of Rs 71,840 per 10 grams, which was above the previous close." There is an increase of Rs 140 from the price.

In the foreign market Comex, spot gold was trading at $ 2,350 an ounce, which is $ 14 more than the previous closing price. Gandhi said traders continued to ride the momentum, pushing gold prices to new highs daily. Additionally, the dollar index is trading lower and US bond yields have declined, providing additional support for safe-haven assets.

Additionally, silver prices also increased and traded at $ 28.04 an ounce. In the last trade, it had closed at $ 27.80 an ounce. Gandhi said, "The upcoming US Consumer Price Index (CPI) data is expected to have a significant impact on gold prices. Prices are already at high levels. Profit-taking may start after these data, leading to a fall in gold prices. Can." In futures trade, gold hit an all-time high of Rs 71,739 per 10 grams on MCX in intraday trade.