NEW DELHI, Feb 20: Gold prices appreciated between Rs 850 and Rs 1,59,500 per 10 gram in the national capital on Friday, while silver remained stable at Rs 2.64 lakh per kilogram, following a firm global trend, traders said.
The yellow metal with 99.9 per cent purity closed at Rs 1,58,650 per 10 grams (including all taxes) on Thursday.
However, silver prices remained unchanged at Rs 2,64,000 per kilogram.
In the international market, spot gold gained $30.83, or 0.62 percent, to $5,027.13 an ounce, while silver rose 2.55 percent to $80.5 an ounce.
“Gold has recovered above $5,020 per ounce, while silver has also risen to around $81 driven by growing concerns over a possible conflict between the United States and Iran,” said Kaynat Chainwala, assistant vice president of commodities research at Kotak Securities.
He added that investors remained cautious ahead of key economic releases, including personal consumption expenditure (PCE) inflation, fourth-quarter GDP and preliminary PMI data.
Gaurav Garg, research analyst at Lemonn Markets Desk, said the rally in bullion prices comes after a recent consolidation, with buyers stepping in on the dips following strong volatility earlier this month.
Global signals, including geopolitical tensions and expectations around US interest rates, continue to drive near-term sentiment, he added.
“Despite intermittent corrections, the broader trend in precious metals remains favorable. Investors view the current moves as part of a consolidation phase rather than a reversal,” Garg said. (PTI)