Gold climbs Rs 323; silver rises Rs 639

Gold prices rose by Rs 323 to Rs 53,039 per 10 grams in the national capital on Thursday amid gains in the precious metal in overseas markets, according to Securities. In the previous trade, the precious metal had settled at Rs 52,716 per 10 grams.
Silver also surged Rs 639 to Rs 62,590 per kg.
“Gold and silver prices rebounded from intraday lows after the dollar fell against its major crosses as the Fed meeting minutes suggest that the central bank was less hawkish as compared to expectations,” said Navneet Damani, Senior VP – Commodity Research at .

In the international market, gold was trading in green at USD 1,755.75 per ounce while silver was up at USD 21.55 per ounce.
“COMEX gold rose for the third day after the Federal Reserve’s latest meeting minutes showed officials support moderating the pace of interest rate increase soon. After yesterday’s Fed meeting minutes, the outlook for the yellow metal turns bullish and we could see metal heading towards USD 1,800 an ounce,” said Dilip Parmar, Research Analyst at HDFC Securities.