New Delhi: The price of gold and silver rose sharply in the national capital, adapting to international markets today. According to HDFC Securities, the price of gold in the domestic market registered a growth of Rs 198 and went up to Rs 48,480 per 10 grams. Gold closed at Rs 48,282 per 10 grams on the previous trading day.

If you talk of silver, the silver price today went up to Rs 65,340 per kilogram with an edge of Rs 1,008 against Rs 64,332 per kilogram in the previous trading session. Gold and silver were trading at US$25.28 per ounce, respectively, at 1,843 US dollars per ounce in the global market.  Fluctuations in the US dollar, the growing coronavirus case and its associated sanctions, mixed economic data from major economies, and additional stimulus measures affect the price of gold and silver.

Analysts say the biggest factor in the price of gold in the past few weeks is the advancement on the vaccine front.  Gold has benefited from large-scale incentives in the year 2020 to counter the economic impact of the corona. It has increased by 25 percent in 2020. Gold is seen as a hedge against inflation and currency decline. Talking about silver, it saw a growth of 50 percent.

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