Gold climbs Rs 70; silver jumps Rs 520

NEW DELHI: Gold price climbed Rs 70 to Rs 59,450 per 10 grams in the national capital on Friday amid gains in prices of precious metal internationally, according to HDFC Securities.

The yellow metal had closed at Rs 59,380 per 10 grams in the previous trade.

Silver also jumped Rs 520 to Rs 70,500 per kilogramme.

''Spot gold prices in the Delhi markets traded at Rs 59,450 per 10 grams, up Rs 70 per 10 grams,'' Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

In the overseas market, gold and silver quoting higher at USD 1,987 per ounce and USD 23.17 per ounce, respectively.

Gold prices were steady in Asian trading hours on Friday.

So far this week, gold prices have surged almost 2.50 per cent on the back of safe haven demand and traders expect US central bank may pause its rate hike cycle, Gandhi said.