Gold climbs Rs 150; silver rallies Rs 700

New Delhi, Dec 15 (PTI) Gold climbed Rs 150 to Rs 63,100 per 10 grams in the national capital on Friday amid a rise in precious metal prices internationally, according to HDFC Securities.

In its previous close, the yellow metal had settled at Rs 62,950 per 10 grams.

Silver also rallied Rs 700 to Rs 78,100 per kilogram, while it had closed at Rs 77,400 per kg in the previous trade.

“Gold advanced on Friday, in the Delhi markets trading at Rs 63,100/10 grams, up by Rs 150, following a bullish trend in the overseas markets,” HDFC Securities’ senior analyst of commodities Saumil Gandhi, said.

In the futures trade, the February contract of gold gained Rs 27 to Rs 62,481 per 10 grams on the MCX. Also, the March contract of silver advanced Rs 112 to Rs 75,188 per kilogram on the bourse.

In the global markets, gold and silver were trading higher at USD 2,037 per ounce and USD 24.19 per ounce, respectively.

Spot gold at Comex was trading at USD 2,037 per ounce, up by USD 5 from its previous close in the overseas markets.

Following a drop in US bond yields, and the Federal Reserve’s stance that the central bank will begin cutting interest rates by March next year, bolstered the gold prices and extended its gains in the second consecutive session on Friday, Gandhi said.