Today's Gold Price Delhi: Sharp Rise In Gold, Silver Prices

Gold price in the national capital on Thursday jumped Rs 592 to Rs 51,750 per 10 grams, amid a rally in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 51,158 per 10 grams, according to PTI news.

Silver also surged by Rs 1,335 to Rs 56,937 per kg from Rs 55,602 per kg in the previous trade. In the international market, gold was trading higher at USD 1,747 per ounce while silver was flat at USD 19.38 per ounce, added the PTI report.

"Gold prices rallied after US Federal Reserve hiked key interest rates by 75 bps in line with market expectations," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

Top 10 countries with largest gold reserves in 2022, Check India's rank
Gold reserves play a vital role and emerged a key asset for any nation as they come to the rescue when the country witnesses financial crisis. Gold is usually held by central banks of a country in the form of gold reserves. Gold reserves have been offering incredible stability as they remain unaffected by economies downturns or political deviations.

Why countries try to maintain high gold reserves?
The fact that gold has emerged as one of the safest investment alternatives and remains unaffected by economic and political changes and this is the reason why nations globally try to maintain high gold reserves. Other factors include gold has a worldwide acceptance, used an an insurance cover against economic downturns, and popularity, among others. Below is the list of countries that has maximum gold in the entire world.

1. USA: The top spot is captured by United States of America. It holds highest gold reserves in the entire world with 8133 tonnes of gold.

2. Germany: After USA, the second spot is grabbed by Germany. It is holding approximately 3359 tonnes of gold reserves as per the data compiled by Gold Hub.

3. Italy: The country has amassed a gold reserves of nearly 2451 tonnes.

4. France: It has taken fourth spot when it comes to holding largest gold reserves at a global level. It has held approximately 2,436 tonnes of gold.

5. Russia: The gold reserves of the country is estimated to be 2298.53 tonnes of gold according to data available.

6. China: Our neighbor China figures at 6th spot in the list. The country has approximately 1948 tonnes of gold in its reserves.

7. Switzerland: One of the most beautiful places on the earth takes pride in the fact that its name figured in the list of nations with top 10 largest reserves. It has 1040 tonnes of gold available in its reserves.

8. Japan: The country has approximately 845 tonnes of gold in its reserves.

9. India: It has managed to amass 743.83 tonnes of gold in its reserves.

10. Netherland: The country has approximately 612 tonnes of gold in its reserves, as per Gold Hub data.