Bullion Market Closing: Gold Jumps Rs 109, Silver Climbs Rs 338

Gold on Friday jumped Rs 109 to Rs 38,894 per 10 gram in the national capital amid a weaker rupee, according to HDFC Securities. The yellow metal had closed at Rs 38,785 per 10 gram on Thursday.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said spot gold for 24 karat in Delhi gained Rs 109, supported by a weaker rupee. He added that the rupee was trading around 14 paise weaker against the dollar during the day.

In the opening trade, the rupee fell 12 paise to 71.15 against the US dollar. Silver prices also climbed Rs 338 to Rs 45,786 per kg compared to the previous close of Rs 45,448 per kg.

In the global market, gold and silver both depicted a flat trend. Gold prices rose marginally to USD 1,478 per ounce and silver at USD 17.05 per ounce.

“Gold prices (globally) traded flat as market participants await further developments on US-China agreed trade deal and as political uncertainty in the US failed to move precious metal,” said Navneet Damani, vice-president (commodities research), Motilal Oswal Financial Services.