Gold rises by ₹ 287, silver jumps ₹ 875

Gold prices in the national capital continued to hit new highs, rising by ₹475 to ₹51,946 per 10 gram on Friday, on the back of gains in the international prices of the precious metal and rupee depreciation.

Gold prices rose by ₹ 287 to ₹ 52,391 per 10 gram in the national capital on Thursday, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹ 52,104 per 10 gram.

Silver prices also gained ₹ 875 to ₹ 69,950 per kilogram from its previous close of ₹ 69,075 per kilogram.

In the international market, gold was quoting marginally lower at USD 1,944 per ounce, while silver was trading flat at USD 26.95 per ounce.

“Gold prices kept range-bound trading on mixed global cues as market is awaiting comments from European Central Bank (ECB) over monetary policy,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Reliance Securities Senior Research Analyst Sriram Iyer said, “Domestic prices were flat to marginally higher this Thursday afternoon in lackluster trade as most investors awaited the ECB meeting today evening.”