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Gold appreciates by Rs 200; silver rallies Rs 400

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NewsDrum Desk
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New Delhi, Feb 2 (PTI) Gold prices appreciated Rs 200 to Rs 63,650 per 10 grams in the national capital on Friday amid strong cues in global markets, according to HDFC Securities.

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The precious metal had closed at Rs 63,450 per 10 grams in the previous trade.

Silver also rallied Rs 400 to Rs 76,500 per kilogram, while it had ended at Rs 76,100 per kg in the previous close.

"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 63,650 per 10 grams, up Rs 200, taking cues from the overseas markets," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

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In the international markets, spot gold at Comex was trading higher at USD 2,054 per ounce, up USD 10 from the previous close.

Traders are looking for US non-farm payrolls data to be released on Friday, which could offer more cues on the macro front for the US Fed's monetary policy outlook, Gandhi added.

Also, silver was quoting with gains at USD 23.15 per ounce.

Gold prices stayed positive this week on the back of Middle East tensions and uncertainty over US Fed's monetary policy interest rate, Jateen Trivedi, VP Research Analyst at LKP Securities, said. PTI HG TRB TRB

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