Gold gains ₹ 347; silver climbs ₹ 606

Gold gained for the third day on Wednesday rising ₹ 347 to ₹ 48,758 per 10 gram in the national capital in line with rally in global precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹ 48,411 per 10 gram.

Silver also witnessed buying as it gained ₹ 606 to ₹ 65,814 per kg from ₹ 65,208 per kg in the previous trade.

In the international market, both gold and silver were quoting with gains at $ 1,854 per ounce and $ 25.28 per ounce, respectively.

Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said, “Gold prices edged higher, reacting to U.S. Treasury Secretary nominee Janet Yellen’s plans to fight the coronavirus-induced economic crisis with big spending.”

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