New Delhi, Jul 18 (PTI) Gold prices rose Rs 100 to Rs 98,770 per 10 grams in the national capital on Friday amid a firm trend in the international markets, according to the All India Sarafa Association.
On Thursday, the precious metal of 99.9 per cent purity had closed at Rs 98,670 per 10 grams.
Gold of 99.5 per cent purity increased by Rs 100 to Rs 98,300 per 10 grams (inclusive of all taxes) on Friday. It had settled at Rs 98,200 per 10 grams in the previous market session.
Meanwhile, silver prices traded flat at Rs 1,10,500 per kilogram (inclusive of all taxes) on Friday.
On the global front, spot gold went up by USD 12.38 or 0.37 per cent to USD 3,351.53 per ounce.
“Gold prices rose as the dollar index showed minor weakness and fresh geopolitical concerns resurfaced with the European Union approving a new sanctions package on Russia, particularly targeting oil trade.
“This lifted sentiment in safe-haven assets, helping Comex gold reclaim the USD 3,350-mark,” Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said.
Spot silver in the global markets appreciated by 0.64 per cent to USD 38.38 per ounce.
“Traders will be awaiting the release of US macroeconomic data, including the Preliminary Michigan Consumer Sentiment and inflation expectations later in the day, which will provide more guidance for the bullion prices,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said. PTI HG HG SHW
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