Delhi Gold Prices Rise Rs 300 Per 10 Grams Amid Retailer Buying
Gold prices in Delhi rose by Rs 300 per 10 grams to Rs 1,48,300 on Friday due to buying from retailers and jewellers. Local traders cited continuous purchases as a key factor supporting domestic gold prices despite weak global prices.
Silver remained flat at Rs 2,24,700 per kilogram, inclusive of all taxes. The yellow metal's price had closed at Rs 1,48,000 per 10 grams in the preceding session.
In international markets, spot gold slipped USD 48.28, or 1.18%, to USD 4,055.56 per ounce, and silver dropped nearly 2% to USD 57.98 an ounce. Analysts attributed this decline to a rebound in crude oil prices, which curbed investors' appetite for precious metals.
Kaynat Chainwala, AVP Commodity Research at Kotak Securities, noted that spot gold is easing back from Thursday's highs, slipping below USD 4,060 per ounce as the dollar claws back ground. Silver has also cooled down, hovering near USD 58.