MUMBAI: Gold and silver prices have been rising sharply in Indian markets for the third day in a row following a rally in the global market. In which silver bounces faster than gold. Gold jumped by Rs 500 to Rs 49,700 per 10 grams in Ahmedabad’s jewelery market today, the highest in a week. On Wednesday, February 3, gold was trading at Rs 49,800 per 10 grams in the domestic market. Today, silver jumped sharply by Rs 2,000 to Rs 70,500 per kg. On Monday, gold was trading at Rs 49,200 per 10 grams and silver at Rs 68,500 per kg in the domestic market. At present, the fundamentals of silver are looking stronger than gold and its prices are rising faster.
Gold for immediate delivery rose 0.8 per cent to 44 1844.20 an ounce. So the US gold futures rose to 18 1846 per troy ounce. Silver jumped 1.7 percent to .7 27.72 an ounce. Palladium was up 1.5 percent at 23 2,346 and platinum was up 1.9 percent at ચાર 1,184.50 an ounce. The weakness of the US dollar and the optimism of announcing a new economic relief package for the world’s largest economy has sent investors back to bullion. As a result, the price of gold in the global market has jumped to a one-week high.