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Gold and silver traded higher on March 23, 2023

Gold price in the Delhi markets rose to rupees 59,350 per 10 grams, up by rupees 450.

Silver prices rose to rupees 69,800 per kilogram, up by rupees 815.

Overseas markets saw gold trading at USD 1,975 per ounce, and silver at USD 22.84 per ounce.

The US Federal Reserve raised interest rates by 25 basis points.

US dollar index fell to a more than one week low of USD 101.6 against a basket of currencies.

The hike in gold and silver prices is due to the recent turmoil in the financial sector.

HDFC Securities' Senior Analyst, Saumil Gandhi, said spot gold prices in the Delhi markets traded at rupees 59,350 per 10 grams.

Motilal Oswal Financial Services Senior VP, Navneet Damani, commented that gold prices edged higher due to the US Fed meeting.

Gold and silver prices have seen an increase due to the US Fed's interest rate hike and the financial sector's turmoil.

Click here to know more about gold and silver rates. 

Check here for more market-related stories. 

In the overseas markets, both gold and silver were trading higher at USD 1,975 per ounce and USD 22.84 per ounce, respectively.

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Gold and silver traded higher on March 23, 2023

In the overseas markets, both gold and silver were trading higher at USD 1,975 per ounce and USD 22.84 per ounce, respectively.

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