Gold prices surged by Rs 180 to Rs 62,450 per 10 grams in Delhi on Friday, driven by strong international cues. Silver also rallied significantly, gaining Rs 900 per kilogram.
New Delhi, Feb 16 (PTI) Gold prices rose Rs 180 to Rs 62,450 per 10 grams in the national capital on Friday amid strong cues in international markets, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 62,270 per 10 grams.
Silver also rallied Rs 900 to Rs 75,500 per kilogram, while it had ended at Rs 74,600 per kg in the previous close.
"Spot gold prices (24 carats) in the Delhi markets are trading at Rs 62,450 per 10 grams, up by Rs 180, taking a positive trend from overseas markets," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
In the global markets, spot gold at Comex was trading at USD 2,003 per ounce, up by USD 10 from the previous close.
Silver was also trading higher at USD 22.97 per ounce, while it had finished at USD 22.50 per ounce in the previous trade.
Gold prices gained after softer US economic data pushed the dollar and Treasury yields lower.
Traders shifted their focus on the US Producer Price Index (PPI) data and commentary from Federal Reserve officials for more cues on the timeline for monetary policy interest rate cut, Navneet Damani, Senior vice-president of commodity research at Motilal Oswal Financial Services, said.
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