Gold jumps Rs 350; silver zooms Rs 650

Gold price jumped Rs 350 to Rs 60,600 per 10 gram in the national capital on Friday amid a rally in precious metals prices overseas, according to HDFC Securities. The yellow metal had closed at Rs 60,250 per 10 gram in the previous trade.

Silver also zoomed Rs 650 to Rs 73,550 per kg.

“Spot gold prices in the Delhi markets traded at Rs 60,600/10gram, up Rs 350 per 10 gram,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.
In the international markets, both gold and silver were trading higher at USD 1,976 per ounce and USD 23.84 per ounce, respectively. Weakness in the US dollar and expectation of a pause in the US Fed reserve policy tightening campaign boosted the precious metal’s appeal, Gandhi said.