SRINAGAR: Gold prices increased by Rs 100 to settle at Rs 98,770 per 10 grams in the national capital on Friday, tracking a firm trend in global markets, the All India Sarafa Association said.
On Thursday, gold of 99.9 per cent purity had closed at Rs 98,670 per 10 grams. Gold of 99.5 per cent purity also rose by Rs 100, reaching Rs 98,300 per 10 grams (inclusive of all taxes), against the previous close of Rs 98,200.
Silver prices remained unchanged at Rs 1,10,500 per kilogram.
In global markets, spot gold rose by USD 12.38 or 0.37 per cent to USD 3,351.53 per ounce, supported by weakness in the dollar index and renewed geopolitical concerns after the European Union approved new sanctions targeting Russian oil trade.
“Comex gold reclaimed the USD 3,350 mark on safe-haven demand,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities.
Global spot silver climbed 0.64 per cent to USD 38.38 per ounce.
Analysts said traders are now eyeing key US macroeconomic data, including the Preliminary Michigan Consumer Sentiment and inflation expectations, for further direction on bullion prices.
