Gold up Rs250; silver rallies Rs400

New Delhi: Gold prices jumped by Rs250 to Rs63,000 per 10 grams in the national capital on Friday amid a global rally in the precious metal, according to HDFC Securities. The yellow metal had closed at Rs 62,750 per 10 grams in the previous trade. Silver also rallied Rs400 to Rs76,000 per kg from Rs75,600 per kg in the previous close. Snapping its three-day losing streak, spot gold prices (24 carats) in the Delhi markets are trading at Rs63,000 per 10 grams, up by Rs250, amid recovery in the overseas markets, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. In the overseas markets, gold was trading higher at $2,027 per ounce, while it had finished at $2,010 per ounce in the previous trade. Silver was also marginally higher at $22.81 per ounce. Uncertainty surrounding the Middle East conflict is contributing to the safe-haven demand for gold prices. Additionally, investors are closely monitoring the Federal Reserve’s stance on interest rates following positive US economic data, Navneet Damani, Senior VP of commodity research at Motilal Oswal Financial Services, said.