Amid strong signals in the international markets, gold rose by Rs 300 to Rs 58,350 per 10 grams in the Delhi bullion market on Monday. In the last trading session, gold had closed at Rs 58,050 per 10 grams. Silver also rose by Rs 500 to Rs 72,500 per kg.
"Gold prices found fresh momentum to continue Friday's gains amid global concerns," said Saumil Gandhi, senior commodities analyst at HDFC Securities. In the global market, gold and silver were seen trading higher at $ 1,848 an ounce and $ 21.70 an ounce, respectively. Navneet Damani, senior vice president of commodity research at Motilal Oswal Financial Services, said that the clashes between Israel and Hamas. The risk of widespread conflict in the Middle East has increased and demand for safe assets such as gold has increased.
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