Gold rises Rs 100; silver jumps Rs 500

New Delhi: Gold prices rose Rs 100 to Rs 63,300 per 10 grams in the national capital on Friday amid gains in precious metal price globally, according to HDFC Securities.

The yellow metal had closed at Rs 63,200 per 10 grams in the previous trade. Silver also jumped Rs 500 to Rs 79,700 per kilogram. In the international markets, both gold and silver were quoting higher at USD 2,042 per ounce and USD 25.30 per ounce, respectively. Spot gold at Comex was trading at USD 2,042 per ounce, up by USD 2 from its previous close.

Traders are expecting that the Federal Reserve would not raise interest rates again and potentially easing monetary policy in the first half of 2024, which will continue to support gold prices, HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said.