According to the reports of HDFC securities, gold prices in the national capital on Friday continued to rise by ₹475 per gram to ₹51,946 per 10 gram, on the back of gains in the international prices of the precious metal and rupee depreciation.
In the previous trade, it had closed at ₹51,471 per 10 gram.
Silver, however, declined by ₹109 to ₹62,262 per kg, from ₹62,371 per kg on Thursday.
“Spot gold prices for 24 karats in Delhi continued to hit new highs, rising by ₹475, with recovery in international gold prices and rupee depreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The rupee slipped 8 paise and settled at 74.83 against the US dollar on Friday, as weak domestic equities and escalating tensions between the US and China weighed on investor sentiments.
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In the international market, gold was quoting higher at $1,897 per ounce and silver was trading with marginal gains at $22.70 per ounce.
Increased tensions between the US and China and worries over growing coronavirus cases are expected to increase safe-haven demand for the precious metals, he said.