Gold trades at ₹47,884 per 10 gram in national capital: HDFC Securities

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Gold prices were trading at ₹47,884 per 10 gram in the national capital on Wednesday, according to HDFC Securities.

Exact rates for Tuesday’s trade were not immediately available, HDFC Securities said.

After a long gap, spot gold markets in the national capital reopened on Monday. The spot gold markets remained closed in the wake of the nationwide lockdown imposed since March 25 to curb spreading of COVID-19 infections.

Lockdown restrictions have now been eased. Silver was trading at ₹51,462 per kg in the Delhi market.

“The retail jewelry stores are opening gradually in India with ease in lockdown. However, the jewellers are witnessing very less footfalls,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, the precious metal was quoting down at USD 1,718.4 per ounce and silver at USD 17.80 per ounce.

He added that gold prices traded lower on increased investors’ confidence on reopening of the economies.

The positive equity indices pressured gold prices to trade down on positive optimism of global economic recovery.

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