Gold price surges ₹510 to ₹60,210 per 10 gram on strong global cues

Gold price jumped ₹510 to ₹60,210 per 10 gram in the national capital on Friday amid strong cues in international markets, according to HDFC Securities.

In the previous trade, the yellow metal had settled at ₹59,700 per 10 gram.

Silver also climbed ₹450 to ₹73,050 per kg.

“Gold advanced in the Asian trading hours on Friday, with spot gold in the Delhi markets trading at ₹60,210/10 gram, up ₹510 per 10 gram,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

In overseas markets, both gold and silver were trading higher at USD 1,962 per ounce and USD 23.95 per ounce, respectively.

The dollar index dropped to a fresh five-week low and settled lower by 0.81 per cent at 102.12 in the previous session on the back of weak US macro data and hawkish comments from the European Central Bank president that indicate another interest rate hike in July, Gandhi said.

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