Precious Metals Surge On Safe-Haven Demand

New Delhi: Gold prices jumped Rs 350 to Rs 79,200 per 10 grams in the national capital on Fri-day on the back of continued buying by jewellers and depreciation in the rupee, according to All India Sarafa Association.Traders said the safe-haven asset is also strengthened by escalating geo-political tensions stemming from the ongoing Russia-Ukraine war and tensions in the Middle East.

The yellow metal on Thursday settled at Rs 78,850 per 10 grams. Rallying for the fourth straight session, silver also surged Rs 900 to Rs 91,700 per kg. During the holiday-shortened week, the white metal soared Rs 3,550 per kg in the past four sessions.

The price of gold of 99.5 per cent purity increased Rs 350 to Rs 78,800 per 10 grams from the previous close of Rs 78,450 per 10 grams on Thursday. Traders highlighted that weakness in the rupee boosted demand for safe-haven assets such as gold.