India News | Gold Jumps Rs 733; Silver Zooms Rs 1,012

New Delhi, Jan 9 (PTI) Gold price in the national capital jumped Rs 733 to Rs 56,380 per 10 grams on Monday amid a rally in the precious metal prices in the overseas market, according to HDFC Securities.

The yellow metal had touched Rs 55,647 per 10 grams in the previous trade.

Also Read | Himachal Pradesh Has Inherited Debt of Rs 75,000 Crore Due to Financial Mismanagement by Previous BJP Government, Says Ministers Anirudh Singh.

Silver also zoomed Rs 1,102 to Rs 69,834 per kilogram on Monday from Rs 68,822 per kg in the previous trade.

"Comex Gold price traded higher in early Asian hours on Monday supported by weaker US dollar. Gold prices bullish trend will likely to continue for the day," said an analyst at HDFC Securities.

Also Read | Gurugram Fire: More Then 200 Shanties Gutted After Massive Blaze Erupted in Slum Near Ghasola Village in Sector 49.

In the overseas market, gold was trading in green at USD 1,875 per ounce and silver was up at USD 23.92 per ounce.

"Meanwhile in other positive news for Gold, China reported an increase in its gold reserves for a second straight month, topping up holdings again after its first reported purchase in more than three years," the analyst added.

On Monday, the rupee gained 29 paise to close at 82.37 (provisional) against the US dollar.

"US dollar index is trading down by 0.30 per cent and consolidated near recent low. Dollar index retreated on Friday after weaker US macro data, US services industry activity contracted in December for the first time in more than 2.5 years amid weakening demand, the analyst said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)