The shine is back: Gold prices in India jump to highest in two years

Gold prices in India jumped to Rs 55,359 per 10 gram on Tuesday amid a rally in prices of the precious metal internationally, according to the Indian Bullion and Jewellers Association.

Gold had hit record highs of Rs 55,901 in August 2020. The yellow metal had closed at  Rs 54,942 per 10 gram in the previous trade.
 
Silver also zoomed to Rs 69,227 per kilogram.
 
“Comex spot gold prices resumed trading on a positive note in early Asian hours on Tuesday. Safe haven demand pushed the yellow metal's price higher,” said an analyst at HDFC Securities. “Gold prices inched higher hitting a six-month high as market's attention turn to minutes from theFederal Reserve’s policy meeting, due this week.

Min­utes from the Fed's December policy meeting on Wednesday could offer hints on the RBI’s tightening path," Navneet Damani, senior V-P-commodity at Motilal Oswal Financial Services, said.