Gold rises Rs 150; silver jumps Rs 300

New Delhi, Jan 15 (PTI) Gold prices rose Rs 150 to Rs 63,550 per 10 grams in the national capital on Monday amid strong cues in the overseas markets, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 63,400 per 10 grams.

Silver also jumped Rs 300 to Rs 76,700 per kilogram, while it had closed at Rs 76,400 per kg in the previous close.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 63,550/10 grams, up by Rs 150, tracking positive cues from overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, gold and silver were quoting higher at USD 2,055 per ounce and USD 23.20 per ounce, respectively.

Gold prices resumed trading on a positive note, supported by haven demand, due to weak US producer price index (PPI) data and geopolitical tensions in the Middle East which have increased the expectations of interest rate cuts by the Federal Reserve at its meeting in March, Gandhi added.