Gold rises Rs 410; silver up Rs 1,700

Gold price climbed Rs 410 to Rs 61,210 per 10 grams in the national capital on Wednesday amid strong cues in the international markets, according to HDFC Securities.

The precious metal had closed at Rs 60,800 per 10 grams in the previous trade.

Silver also jumped Rs 1,700 to Rs 75,000 per kilogram.

"Gold prices advanced on Wednesday, with spot gold prices in the Delhi markets trading at Rs 61,210/10 gram, up Rs 410, following a bullish trend in the overseas markets," Saumil Gandhi, senior analyst of commodities at HDFC Securities.

In the global markets, both gold and silver were trading higher at USD 1,970 per ounce and USD 23.27 per ounce, respectively.

Gold gains after soft US inflation data bolstered the view that the Federal Reserve's aggressive monetary tightening cycle has ended and traders have raised the bets for a rate cut in the next year," Gandhi said.

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