NEW DELHI, Nov 19: Gold prices in Delhi surged ₹1,500 to ₹1,27,300 per 10 grams on Wednesday, driven by a strong rally in international markets and renewed safe-haven buying, according to the All India Sarafa Association.
Gold of 99.5% purity rose to ₹1,26,700 per 10 grams (inclusive of taxes).
Silver also rebounded, climbing ₹4,000 to ₹1,60,000 per kg, ending a three-day losing streak in the local bullion market.
Analysts attributed the gains to softer US labor market data, which indicated cooling employment conditions and kept expectations of potential Federal Reserve rate cuts alive. Globally, spot gold rose 1.14% to USD 4,114.01 per ounce, while spot silver gained 3.09% to USD 52.26 per ounce, reflecting investor caution ahead of key economic data releases. (PTI)
