Gold price increases by Rs 70, currently at Rs 38,695 per 10 gram

New Delhi: Gold and silver prices on Friday witnessed recovery, with the yellow metal rising Rs 70 to Rs 38,695 per 10 gram in the national capital, according to HDFC Securities.

Silver prices also witnessed a gain of Rs 172 to Rs 48,400 per kilogram. On Thursday, it closed at Rs 48,228 per kilogram.

In the bullion market here, gold rose to Rs 38,695 per 10 gram from its previous closing price of Rs 38,625 per 10 gram, it said.

"Spot gold prices for 24 Karat in Delhi was trading up at Rs 38,695 with a volatile rupee which witnessed correction in noon trading," said Tapan Patel, senior analyst (commodities), HDFC Securities.

In the global market also, gold prices were trading higher at USD 1,505 an ounce in New York and silver quoted in the green at USD 18.17 per ounce, according to the data by HDFC Securities.

Meanwhile, during early trade on Friday, the rupee appreciated by 26 paise to 70.88 against the US dollar.