Gold shoots by Rs 440 on first day of 2025 to Rs 79,390; silver surges by Rs 800
Mumbai: Gold prices increased by Rs 440 to Rs 79,390 per 10 grams on Wednesday, buoyed by fresh buying activity as the year began on a strong note, The Economic Times reported.
On Tuesday, the price was Rs 78,950 per 10 grams.
Gold of 99.5% purity rose by Rs 440, trading at Rs 78,840 per 10 grams, up from Rs 78,400 in the previous session.
Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, explained that gold prices had remained within narrow ranges this week due to the Christmas holidays, with market participants awaiting more fundamental factors to drive the next phase of market movement, according to the ET report.
Silver also saw a notable increase, rising Rs 800 to Rs 90,500 per kg on Wednesday, compared to Rs 89,700 in the prior session.
In futures trade, gold contracts for February delivery ended flat at Rs 76,893 per 10 grams, while silver contracts for March delivery fell by Rs 28 to settle at Rs 87,550 per kg.
The MCX conducted trading in the morning session but remained closed for the evening due to New Year's Day, as did overseas markets, according to Gandhi.
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