Gold climbs Rs 1,400; Silver jumps Rs 1,000

New Delhi: Gold prices jumped Rs 1,400 to Rs 96,450 per 10 grams in the national capital on Friday due to fresh buying from jewellers and stockists, according to the All India Sarafa Association. The precious metal of 99.5 per cent purity climbed Rs 1,400 to Rs 96,000 per 10 grams (inclusive of all taxes). Gold of 99.9 per cent and 99.5 per cent purity had closed at Rs 95,050 and Rs 94,600 per 10 grams, respectively, on Thursday. In addition, silver prices appreciated by Rs 1,000 to Rs 98,000 per kg on Friday (inclusive of all taxes). The metal had ended at Rs 97,000 per kg in the previous market session.

Meanwhile, spot gold in the international markets declined by $50.85 or 1.57 per cent to $3,189.25 per ounce. “Gold prices remained volatile, hovering near $3,200 as markets reacted to potential trade agreements between the US and key partners such as the UK and China,” Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said. The absence of a dovish signal from the US Federal Reserve, with no immediate interest rate cut, further limited buying momentum in bullion, Trivedi added.