India News | Gold Remains Flat; Silver Jumps Rs 400

New Delhi, Feb 9 (PTI) Gold prices remained flat at Rs 63,300 per 10 grams in the national capital on Friday, according to HDFC Securities.

However, silver prices jumped Rs 400 to Rs 75,000 per kilogram, while it had closed at Rs 74,600 per kg in the previous close.

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"Spot gold prices (24 carats) in the Delhi markets are trading flat at Rs 63,300 per 10 grams," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

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

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Also, silver was trading up at USD 22.60 per ounce.

"The prospect of near-term rate cuts appeared to diminish from the US Federal Reserve's agenda, contributing to the subdued market sentiment.

"However, geopolitical tensions in the Middle East provided support for gold prices, particularly at lower levels," Jateen Trivedi, VP Research Analyst at LKP Securities, said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)