Gold jumps Rs 210; silver climbs Rs 700

Gold price jumped Rs 210 to Rs 59,810 per 10 grams in the national capital on Friday amid strong cues in overseas markets, according to HDFC Securities. The precious metal had settled at Rs 59,600 per 10 grams in the previous trade.

Silver also climbed Rs 700 to Rs 73,700 per kilogram.

In the global markets, gold and silver were trading higher at USD 1,916 per ounce and USD 23.02 per ounce, respectively.
“The dollar index pulled back from its highest level since March and this was seen as a key factor driving some flows towards the gold price. “However, further gains are capped by strong US macro data that continue to point to an extremely resilient American economy and support the case for further policy tightening by the Fed before the end of the year,” Saumil Gandhi, senior analyst of commodities of HDFC Securities, said.

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