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Gold Silver Rates Today: Gold firm as US Fed keeps rates unchanged; silver jumps Rs 700/kg | Business News
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Gold Silver Rates Today (November 2): Gold prices jumped slightly on Thursday after the US Federal Reserve held the interest rates steady and hinted that the US central bank may be done with rate hikes.
The prices of 10 gram of 24-carat gold rose by Rs 110 to Rs 61,640, while that for 22-carat gold, the rates jumped by Rs 100 to Rs 56,500.
In Chennai, 10 grams of 24-carat was selling at Rs 62,130; in Mumbai at Rs 61,640; and in Delhi at Rs 61,790.
The Fed held rates steady on Wednesday as expected, as policymakers struggled to determine whether financial conditions may be sufficiently tight to control inflation.
The dollar index was down 0.5 per cent, making gold, used as a safe investment during times of political and financial uncertainty, less expensive for other currency holders.
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Gold rose above the key $2,000-per-ounce level last week as investors opted for bullion amid growing unrest in the Middle East.
World’s largest gold-backed exchange-traded fund, SPDR Gold Trust’s holdings climbed 0.24 per cent to 861.51 tonnes on Wednesday.
On the other hand, silver prices jumped by Rs 700 per kg today, to Rs 74,800. In Chennai, the precious metal was selling at Rs 77,700 per kg; in Mumbai, Delhi and Kolkata at Rs 74,800; and in Bangalore at Rs 73,000 per kg.
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