Gold prices surged by Rs 232 to Rs 50,184 per 10 gram in Delhi on Thursday, tracking gains in the international market. On Wednesday, gold had closed at Rs 49,952 per 10 gram. Silver also gained Rs 1,275 to Rs 52,930 per kg from Rs 51,655 per kg in the previous trade. In the global market, the yellow metal was trading with gains at $1,813 per ounce, while silver quoted at USD 18.94 per ounce. "Gold prices rallied on safe-haven buying over worries over rising virus cases," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
From the lows reached in March, when the coronavirus pandemic started to spread, of Rs 38,500 per 10 grams, the yellow metal prices have surged over 28 per cent to hit a fresh all-time high level. While it has jumped 25.8 per cent so far this year. According to experts, the gold prices are expected to touch up to Rs 55,000 per 10 grams by the end of 2020.
Meanwhile, equity benchmark Sensex jumped over 200 points in early trade on Thursday tracking gains in financial stocks amid positive cues from global markets. After touching a high of 36,541.53 in the opening session, the 30-share index was trading 190.57 points, or 0.52 per cent, higher at 36,519.58. The NSE Nifty was up 54.70 points, or 0.51 per cent, at 10,760.45. The international oil benchmark Brent crude futures slipped 0.05 per cent to USD 43.27 per barrel.
(With PTI inputs)