Gold price jumps ₹575; silver up by ₹1,227

The precious metal had closed at ₹48,550 per 10 gm in the previous trade.

People buying gold jewellery. File

Gold price on Thursday jumped ₹575 to ₹49,125 per 10 gm in the national capital amid firm global market trend, according to HDFC Securities.

The precious metal had closed at ₹48,550 per 10 gm in the previous trade.

Silver also shot up by ₹1,227 to ₹66,699 per kg, compared to the previous close of ₹65,472.

"Spot gold prices for 24 karat gold in Delhi rallied for the fourth consecutive day by ₹575 in line with surge in COMEX (New York-based commodity bourse) gold prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold was trading firm at $1,870.50 an ounce while silver was up at $25.83 an ounce.

Mr. Patel said gold prices surged on easy monetary policy from major central banks, while the dollar headed for the fourth straight day decline on stimulus hopes.