Gold jumps Rs 497; silver slips Rs 80

News

Gold prices jumped by Rs 497 to Rs 52,220 per 10 grams in the national capital on Thursday amid a global rally in the metal and depreciation in the rupee, according to Securities. In the previous trade, the precious metal had settled at Rs 51,723 per 10 grams.

Silver, however, slipped by Rs 80 to Rs 61,605 per kg from Rs 61,685 per kg.

The rupee depreciated 4 paise to 81.66 against the US dollar in early trade on Thursday amid a high volatility as rising crude oil prices weighed on the local unit.

In the international market, gold was trading in green at USD 1,722.6 per ounce while silver was flat at USD 20.68 per ounce.

“COMEX gold continues its northbound journey following weakness in the dollar. Domestic gold prices also headed higher following a weaker rupee, higher international gold prices and robust festive demand and lower supply,” Dilip Parmar, Research Analyst at HDFC Securities, said.

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