Gold climbs rupees 100, silver gains rupees 400 on October 11, 2023

Gold climbs rupees 100, silver gains rupees 400 on October 11, 2023 {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Gold prices increased by rupees 100 to reach rupees 58,700 per 10 grams in India's national capital on Wednesday. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Silver prices also rose, gaining rupees 400 to reach rupees 73,000 per kg. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

The previous day, gold closed at rupees 58,600 per 10 grams. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

These price increases were attributed to gains in global precious metal markets. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

In the international market, gold was priced at USD 1,867 per ounce, while silver stood at USD 22.05 per ounce. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Bullish cues from overseas markets were influencing the positive trend in gold prices. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Comments from US Federal Reserve officials suggesting reduced need for further rate hikes contributed to gold's rise. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Traders are monitoring forthcoming macroeconomic data releases, including US PPI inflation and FOMC minutes from the September meeting. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}

Click here to know more about gold and silver rates. Check here for more market-related stories. {"selector":".custom-animation","duration":"4s","easing":"ease-out","keyframes":[{"transform":"scale(2)"},{"transform":"scale(1.5)"},{"transform":"scale(1)"}]}