Gold jumps ₹300; silver climbs ₹400

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Gold prices jumped ₹300 to ₹60,100 per 10 grams in the national capital on August 30 amid strong global cues, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹59,800 per 10 grams.

Silver also bounced ₹400 to ₹77,500 per kg.

“Gold advanced on Wednesday, with spot gold prices in the Delhi markets trading at ₹60,100/10 gram, up by ₹300 following positive cues from overseas markets.

“Investors will now monitor the U.S. ADP private employment and estimate of Q2 gross domestic product data which is due later today,” Saumil Gandhi, senior analyst, commodities at HDFC Securities, said.

In the global markets, both gold and silver were trading higher at $1,936 per ounce and $24.60 per ounce, respectively.

Gold rallied to its three-week highs as the dollar and treasury yields slipped amidst weak economic data points, said Navneet Damani, senior vice-president of commodity research at Motilal Oswal Financial Services.