Gold prices increased by Rs 700 to Rs 79,400 per 10 grams in the national capital on Friday, driven by fresh buying from local jewellers and a strong global trend, as reported by the All India Sarafa Association. The yellow metal, with 99.9% purity, had closed at Rs 78,700 per 10 grams the previous day.
Silver prices surged by Rs 1,300 to Rs 92,200 per kg, recovering from a sharp decline of Rs 4,900 to Rs 90,900 per kg on Thursday. Meanwhile, gold of 99.5% purity gained Rs 700, reaching Rs 79,000 per 10 grams, up from Rs 78,300 the previous day. Traders attributed the price increase to a positive overseas trend and a rise in domestic demand, which contributed to the bullish sentiment and pushed gold prices higher.
In futures trade on the Multi Commodity Exchange (MCX), gold contracts for December delivery rose by Rs 602, or 0.79%, trading at Rs 76,326 per 10 grams.