Gold rises Rs 100; silver climbs Rs 1,200

New Delhi: Silver prices surged Rs1,200 to Rs85,800 per kilogram, while gold rose Rs100 to Rs74,200 per 10 grams in the national capital on Friday, according to the All India Sarafa Association. In the previous session, the precious metal of 99.9 per cent purity had ended at Rs74,100 per 10 gram. The silver metal had ended higher at Rs84,600 per kilogram in the previous session on Thursday. Additionally, gold of 99.9 and 99.5 per cent purity rose Rs100 each to Rs74,200 and Rs73,850 per 10 grams, respectively. Traders attributed the rise in gold prices due to increased demand by jewellers and stockists as well as a jump in the precious metal rates in the overseas markets. Globally, Comex gold rose 0.22 per cent higher at $2,548.80 per ounce. Silver also quoted marginally higher at 0.26 per cent to $29.18 per ounce in the international markets.

“Gold extended gains on Friday, as the US dollar and Treasury yields fell following another set of data showing a sluggish US labour market,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.