Gold jumps ₹Rs 395; silver declines ₹ 115

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Gold price jumped ₹395 to ₹55,540 per 10 grams in the national capital on March 10 amid strong global trends, according to HDFC Securities.

In the previous trade, the precious metal had ended at ₹55,145 per 10 grams.

Silver, however, declined ₹115 to Rs 62,095 per kilogramme.

“Spot gold prices in the Delhi markets traded at ₹Rs 55,540 per 10 grams, up ₹Rs 395 per 10 grams,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.

In the overseas market, gold was trading higher at $1,833 per ounce while silver was down at $20.09 per ounce.

“Gold price inched higher as the dollar and U.S. Yields eased after data showed that weekly U.S. jobless claims grew more than expected, spurring hopes that a softening labour market could pave the way for less-aggressive rate hikes from the US Federal Reserve,” Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said.