Gold rises by Rs 474; silver jumps Rs 1,050 on strong global trends

NEW DELHI: Gold rose by Rs 474 to Rs 47,185 per 10 gram in the national capital on Friday amid strong buying in global precious metals, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 46,711 per 10 gram.

Silver also jumped Rs 1,050 to Rs 70,791 per kilogram from Rs 69,741 per kilogram in the previous trade.

“Spot gold prices for 24 carat in Delhi rose by Rs 474 with strong buying in global gold prices,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

In the international market, gold was trading with gains at $1,820 per ounce and silver was flat at $27.33 per ounce.

According to Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services, “Gold prices edged higher surpassing its psychological resistance of $1,800, aided by a pullback in the dollar and Treasury yields as investors cautiously await US non-farm payrolls data for further cues on the health of the world’s biggest economy.”

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