Gold gains Rs 107; silver declines Rs 120

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Gold gains Rs 107; silver declines Rs 120

Staff Reporter
Gold prices rose Rs 107 to Rs 54,222 per 10 grams in the national capital on Friday amid gains in prices of precious metal in overseas markets, according to HDFC Securities.

In the previous trade, the yellow metal had settled at Rs 54,115 per 10 grams.

Silver, however, declined Rs 120 to Rs 68,001 per kilogram.

“Domestic market Gold price got support from weaker rupee. Comex Gold prices are trading in the green zone in the Asian trading hours,” said Dilip Parmar, Research Analyst at HDFC Securities.

In the international market, gold was trading in green at USD 1,783.80 per ounce while silver was down at USD 23.07 per ounce.

“Gold price traded steady after witnessing a fall and are set for a weekly loss, pressured by expectations of higher interest rates for a longer period by the US Federal Reserve. Focus today will be on the EU CPI, UK Retail sales, manufacturing and service PMI data from major economies,” Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services.

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