Gold Price Today, 1 March 2021: Gold price soars Rs 241; silver jumps Rs 781

The precious metal had closed at Rs 45,279 per 10 grams in the previous trading session. Silver also jumped by Rs 781 to Rs 68,877 per kg, compared with the previous close of 68,096 per kg. Spot gold rose 0.3 percent to $1,739.31 per ounce by 0108 GMT.

Gold prices on Monday rose by Rs 241 to Rs 45,520 per 10 grams in the national capital in line with the strong global bullion market trend, according to HDFC Securities. It gained after the lower house of the US parliament passed a massive stimulus package, which will likely lead to more inflation.

The precious metal had closed at Rs 45,279 per 10 grams in the previous trading session.

Silver also jumped by Rs 781 to Rs 68,877 per kg, compared with the previous close of 68,096 per kg.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot prices for 24 karat gold in Delhi rose by Rs 241, in line with the recovery in global gold prices while rupee appreciation capped upside."

The spot rupee was trading around 16 paise stronger against the dollar halting the three days during the day, HDFC Securities added.

Spot gold rose 0.3 percent to $1,739.31 per ounce by 0108 GMT, after hitting its lowest since June at $1,716.85 on Friday. US gold futures gained 0.4 per cent to $1,736.10.

In the international markets, gold was trading stronger at USD 1,753 an ounce, while silver was up at USD 26.90 an ounce.