Gold jumps ₹350; silver zooms ₹650

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| Photo Credit: Reuters

Gold price jumped ₹350 to ₹60,600 per 10 gram in the national capital on Friday amid a rally in precious metals prices overseas, according to HDFC Securities.

The yellow metal had closed at ₹60,250 per 10 gram in the previous trade.

Silver also zoomed ₹650 to ₹73,550 per kg.

“Spot gold prices in the Delhi markets traded at Rs 60,600/10gram, up Rs 350 per 10 gram,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

In the international markets, both gold and silver were trading higher at $1,976 per ounce and $23.84 per ounce, respectively.

Weakness in the U.S. dollar and expectation of a pause in the U.S. Fed reserve policy tightening campaign boosted the precious metal’s appeal, Mr. Gandhi said.