New Delhi, Feb 12 (PTI) Gold prices remained steady at Rs 63,150 per 10 grams in the national capital on Monday, according to HDFC Securities.
However, silver jumped Rs 400 to Rs 75,400 per kg from its previous close of Rs 75,000 per kg.
Meanwhile, the next tranche of Sovereign Gold Bond scheme opened for subscription at a price of Rs 6,263 per gram. The issue is open until February 16.
The Government of India, in consultation with the Reserve Bank, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and making the payment against the application through digital mode.
“Spot gold prices (24 carats) in the Delhi markets are trading flat at Rs 63,150 per 10 grams, unchanged from the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the international markets, spot gold at Comex was trading at USD 2,022 per ounce, down by USD 2 from the previous close.
Also, silver was trading marginally higher at USD 22.80 per ounce.
Traders avoided directional bets before the outcome of the US consumer inflation data, to be released on Tuesday, which can provide more insights about the US Federal Reserve monetary policy path, Gandhi added.
Jateen Trivedi, VP Research Analyst, LKP Securities said that the spotlight also turned to the fourth tranche of Sovereign Gold Bonds (SGB), which garnered investor attention.
With stable returns fixed at 2.5 per cent, investors were drawn to park their funds in gold, especially amidst prevailing uncertainties in the global and Indian markets.
“However, the price of Rs 62,130 per 10 gram may seem unattractive to some investors, particularly considering the delayed hints of US rate cuts, which could potentially support a rise in the dollar and limit the upside for gold prices in the short term,” Trivedi said.