Gold, silver prices appreciate by Rs 200 each

New Delhi, Jan 29 (PTI) Gold prices rose by Rs 200 to Rs 63,100 per 10 grams in the national capital on Monday amid strong global cues, according to HDFC Securities.

The precious metal settled at Rs 62,900 per 10 grams in the previous trade.

Silver prices also increased by Rs 200 to Rs 76,400 per kg.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 63,100 per 10 grams, up by Rs 200, following stronger overseas gold prices,” Dilip Parmar, research analyst at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at USD 2,031 per ounce, up by USD 13 from the previous close.

Gold prices increased after mixed US economic data which pushed the dollar slightly lower while the risk sentiment remains firm, Parmar said.

Also, silver was trading marginally higher at USD 22.99 per ounce in the global markets.

Traders believe that gold may appreciate in the near future amid geopolitical concerns in the Middle East and the possibility that the US Federal Reserve would delay the monetary policy interest rate cut, Parmar added.