Gold remains flat; silver jumps Rs 400
Spot gold prices (24 carats) in the Delhi markets are trading flat at Rs 63,300 per 10 grams," Saumil Gandhi, senior analyst of commodities at HDFC Securities,
Representative Image
NEW DELHI: Gold traded flat at Rs 63,300 per 10 grams in the national capital on Friday, according to HDFC Securities.However, silver prices jumped Rs 400 to Rs 75,000 per kilogram, while it had closed at Rs 74,600 per kg in the previous close.
"Spot gold prices (24 carats) in the Delhi markets are trading flat at Rs 63,300 per 10 grams," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.In the overseas markets, spot gold at Comex was trading at USD 2,031 per ounce, up USD 2 from the previous close.Also, silver was trading up at USD 22.60 per ounce.
"The prospect of near-term rate cuts appeared to diminish from the US Federal Reserve's agenda, contributing to the subdued market sentiment.
"However, geopolitical tensions in the Middle East provided support for gold prices, particularly at lower levels," Jateen Trivedi, VP Research Analyst at LKP Securities, said.