Gold jumps Rs 395; silver declines Rs 115

Gold price jumped Rs 395 to Rs 55,540 per 10 grams in the national capital on Friday amid strong global trends, according to HDFC Securities.

In the previous trade, the precious metal had ended at Rs 55,145 per 10 grams.

Silver, however, declined Rs 115 to Rs 62,095 per kilogramme.

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“Spot gold prices in the Delhi markets traded at Rs 55,540 per 10 grams, up Rs 395 per 10 grams,” said Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.

In the overseas market, gold was trading higher at USD 1,833 per ounce while silver was down at USD 20.09 per ounce.

“Gold price inched higher as the dollar and US Yields eased after data showed that weekly US jobless claims grew more than expected, spurring hopes that a softening labour market could pave the way for less-aggressive rate hikes from the US Federal Reserve,” Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said.