New Delhi: Gold prices witnessed a sharp rise on Friday, with the precious metal gaining ₹850 in the national capital’s Sarafa market. Gold closed at ₹1,59,500 per 10 grams, while silver remained unchanged at ₹2,64,000 per kilogram, maintaining its previous levels despite recent volatility.
Domestic Market Movement
According to market sources, 99.9% pure gold was priced at ₹1,58,650 per 10 grams (all-inclusive) on Thursday. On Friday, it jumped ₹850 to close at ₹1,59,500 per 10 grams. In contrast, silver remained steady at ₹2,64,000 per kilogram, showing no change.
International Trends
Global markets also saw an uptick in precious metals. Spot gold rose 0.62% to $5,027.13 per ounce, while silver gained 2.55% to trade at $80.50 per ounce.
Kainaat Chenwala, Assistant Vice President of Commodities Research at Kotak Securities, noted: “Gold surpassed $5,020 per ounce, while silver approached $81 per ounce amid growing concerns over a potential U.S.-Iran conflict.”
She added that investors were cautious ahead of major economic announcements, including Personal Consumption Expenditure (PCE) inflation, Q4 GDP data, and flash PMI figures.
Buying on Dips
Gaurav Garg, Research Analyst at Lemon Markets Desk, said that after significant market fluctuations earlier this month, buyers are taking advantage of temporary price dips. He also noted that geopolitical tensions and expectations around U.S. interest rates continue to influence global precious metal trends.
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