Silver gains Rs 1,500; gold loses Rs 400

New Delhi: Silver prices gained Rs 1,500 to Rs 2.76 lakh per kilogram in the national capital amid firm global trends and intensifying West Asia crisis. According to the All India Sarafa Association, the white metal climbed by Rs 1,500, or 0.54 per cent, to Rs 2,76,500 per kilogram.

It had closed at Rs 2,75,000 per kg, down by Rs 4,275 on Wednesday. Prices of gold of 99.9 per cent purity retreated Rs 400, ending a three-day rally, to Rs 1,65,200 per 10 grams from the previous close of Rs 1,65,600 per 10 grams.

Analysts said gold and silver moved in opposite directions as investors weighed geopolitical developments and macroeconomic signals from the United States.

Gold prices slid slightly, reflecting a minor decline amid a firmer dollar and persistent inflation concerns, while silver showed resilience as traders reacted to potential buying opportunities amid geopolitical tensions related to the US-Iran situation, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.