Home NewsCommodities News Gold climbs Rs 400; silver tumbles Rs 430

Gold climbs Rs 400; silver tumbles Rs 430

by WOOWinvest
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Gold climbs Rs 400; silver tumbles Rs 430

Gold price climbed Rs 400 to Rs 58,040 per 10 grams in the national capital on Friday amid a rise in the precious metal prices globally, according to HDFC Securities. The yellow metal had settled at Rs 57,640 per 10 grams in the previous trade.

Silver, however, tumbled Rs 430 to Rs 67,600 per kilogram.

“Spot gold prices in the Delhi markets traded at Rs 58,040 per 10 grams, up Rs 400 per 10 grams,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

In the overseas markets, gold was quoting higher at USD 1,928 per ounce while silver was down at USD 21.87 per ounce.

Comex Gold prices traded higher in Asian trading hours on Friday.

The recent rally in the yellow metal was supported by safe haven buying as concerns about the banking crisis continued after the European Central Bank hiked interest rates despite the ongoing financial stability risks, Gandhi said.

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