The gold price advanced Rs 480 to touch a lifetime high of Rs 61,780 per 10 grams in the national capital on Friday, April 14, amid a strong global trend, said HDFC Securities.
In the previous trade, the Godl metal price scaled upat Rs 61,300 per 10 grams. Silver also climbed Rs 410 to Rs 77,580 per kg.
"Spot gold prices in National capitals traded at Rs 61,780 per 10 grams, up Rs 480 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. In the overseas market, both gold and silver were trading higher at USD 2,041 per ounce and USD 25.88 per ounce, respectively.
Gold prices traded higher in Asian trading hours on Friday.
Comex spot gold prices surged to a 13-month high as bullish sentiment was boosted by a decline in the dollar index and yields, Gandhi said.
Gold Outlook: The Reserve Bank of India has fixed the fresh price for early withdrawal of the sovereign gold bond issued five years ago. It is more than double the issue price. In 2017-18, Gold Bond Series 3 was issued at a price of Rs.2,964 per gram, and it will complete five years on April 15. The RBI said on Friday that this bond can be surrendered at a price of Rs 6,063 and get money.
The central bank also said that the withdrawal price of this bond has been fixed based on the price of gold for three working days (April 11 to 13) announced by the Indian Bullion and Jewelers Association (IBJA).
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