Gold remains flat; silver jumps Rs400

New Delhi: Gold prices remained flat at Rs63,300 per 10 grams in the national capital on Friday, according to HDFC Securities. However, silver prices jumped Rs400 to Rs75,000 per kilogram, while it had closed at Rs74,600 per kg in the previous close. “Spot gold prices (24 carats) in the Delhi markets are trading flat at Rs63,300 per 10 grams,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.

In the overseas markets, spot gold at Comex was trading at $2,031 per ounce, up $2 from the previous close. Also, silver was trading up at $22.60 per ounce.

“The prospect of near-term rate cuts appeared to diminish from the US Federal Reserve’s agenda, contributing to the subdued market sentiment. However, geopolitical tensions in the Middle East provided support for gold prices, particularly at lower levels,” adds Jateen Trivedi, V-P (research analyst) at LKP Securities.