New Delhi: Gold prices jumped Rs 477 to Rs 48,190 per 10 gram on Thursday in the national capital, according to HDFC Securities. Also Read - Spot Gold Markets Remain Shut Due to Countrywide Lockdown: HDFC Securities
The precious metal had closed at Rs 47,713 per 10 gram on Wednesday. Also Read - Gold Prices Rise by Rs 75 to Rs 33,195 Per 10 Gram on Local Buying
“Spot gold prices for 24 carat in Delhi traded up by Rs 477 on rupee depreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said. Also Read - Rupee ends steady at 71.12/USD; focus on Fed policy, Union Budget
The rupee depreciated 20 paise to provisionally close at 75.79 against the US dollar on Thursday as strengthening US dollar and weak domestic equities weighed on investor sentiment.
Meanwhile, silver prices rose by Rs 26 to Rs 49,868 per kg from Rs 49,842 per kg in the previous trade.
In the international market, gold was quoting lower at USD 1,735 per ounce and silver at USD 17.86 per ounce.