Delhi Gold Prices Soar as Retailers, Jewellers Fuel Demand

Gold prices surged in Delhi on Friday due to buying from retailers and jewellers. The yellow metal of 99.9% purity rose by Rs 300 to Rs 1,48,300 per 10 grams in the national capital.

This increase comes despite weak global prices, with spot gold slipping USD 48.28, or 1.18%, to USD 4,055.56 per ounce and silver dropping nearly 2% to USD 57.98 an ounce.

Analysts point out that the rebound in crude oil prices has curbed investors' appetite for precious metals in overseas markets.