Gold jumps Rs540; silver rallies Rs1,200
image for illustrative purpose
New Delhi: Gold price jumped Rs540 to Rs61,750 per 10 grams in the national capital on Friday amid strong global cues, according to HDFC Securities. The precious metal had ended at Rs61,210 per 10 grams in the previous trade.
Silver also rallied Rs1,200 to Rs76,500 per kg. Saumil Gandhi, senior analyst of commodities at HDFC Securities, said that a bullish trend in the overseas markets supported the gold prices. In the international markets, both gold and silver were trading higher at $1,984 per ounce and $23.86 per ounce, respectively.
Gold rallied to a fresh weekly high as US macro data pointed to growing labour-market weakness, heightening expectations that the Federal Reserve will hold the line on interest rates, Gandhi said.
