Bullion Market Closing: Gold Rises Rs 126 On Weaker Rupee On Account Of Festive Demand

Gold prices on Friday rose Rs 126 to Rs 39,160 per 10 gram in the national capital on a weaker rupee and festive demand, according to HDFC Securities.The yellow metal had closed at Rs 39,034 per 10 gram on Thursday.

Silver prices also jumped Rs 380 to Rs 46,900 per kilogram from Rs 46,520 per kilogram in the previous trade, according to the data from HDFC Securities.

"Spot gold prices for 24 karat in Delhi was trading up by Rs 126 as festival demand kicks in and on weaker rupee which fell by around 17 paise against the dollar from the opening levels," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market also, gold prices were trading higher at USD 1,502 an ounce and silver at USD 17.71 per ounce.

Gold prices traded higher on Friday with COMEX international spot gold prices recovering to USD 1,502 on weaker dollar index and geopolitical risks, he added.