Gold up Rs 75, silver down Rs 453
New Delhi: Gold on Friday gained Rs 75 to Rs 51,863 per 10 grams in the national capital in line with steady global prices and a weak rupee, according to HDFC Securities.
In the previous trade, the precious metal finished at Rs 51,788 per 10 grams.
Silver, however, declined by Rs 453 to Rs 67,996 per kg from Rs 68,449 per kg in the previous trade.
The rupee on Friday slid below the 76-mark for the first time this year and settled at an 11-week low as investors assessed the global economic impact of the Russia-Ukraine conflict amid rising crude oil prices.
In the international market, both gold and silver were flat at USD 1,936 an ounce and USD 25.40 an ounce respectively.
“Spot gold prices at COMEX were trading flat at USD 1,936 per ounce on Friday. Gold prices were supported by a fall in the US bond yields along with inflation worries due to rise in energy cost,” said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.
According to Navneet Damani, Senior VP Commodities Research, Motilal Oswal Financial Services, “Investors took shelter under the safe haven assets after Russia attacked a nuclear power plant in Ukraine the largest of its kind in Europe.