Gaining for the second straight day, gold prices in Delhi jumped by Rs 280 to Rs 35,950 per 10 grams on Friday, reported news agency Press Trust of India (PTI). Gold prices had gained by Rs. 170 on Thursday. Meanwhile, silver also rose by Rs 935 to Rs 42,035 per kilogram. The prices of white metal have jumped by Rs 2,505 per kg in the previous three days. The increase in prices of gold and silver came on persistent buying from jewellers.
Here are key things to know about gold and silver prices today:
1. Globally, gold prices eased as investors booked profits after prices went past $1,450 an ounce to hit a six-year peak. However, Middle East tensions and prospects for lower interest rates kept bullion on track for a second week of gains.
2. Spot gold shed 0.4 per cent to $1,439.61 in intraday trade, having touched its highest since early May 2013 at $1,452.60, reported news agency Reuters.
3. "Gold prices may trade higher in the coming days because of weaker dollar and speculations of US Fed rate cut," Press Trust of India quoted Tapan Patel, senior analyst (commodities), HDFC Securities as saying.
4. In Delhi, gold of 99.9 per cent and 99.5 per cent purity gained Rs 280 to Rs 35,950 and Rs 35,780 per 10 grams, respectively. Sovereign gold also advanced by Rs 100 to Rs 27,500 per eight grams.
5. Silver weekly-based delivery surged Rs 857 to Rs 41,263 per kg. Silver coins also traded higher by Rs 3,000 at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces, respectively.
(With agency inputs)