New Delhi: Gold prices appreciated by Rs 850 to Rs 1,59,500 per 10 grams in the national capital on Friday, February 20, while silver stayed flat at Rs 2.64 lakh per kilogram, tracking a firm global trend, according to marketmen.
The yellow metal of 99.9 per cent purity had closed at Rs 1,58,650 per 10 grams (inclusive of all taxes) on Thursday.
However, silver prices remained unchanged at Rs 2,64,000 per kilogram.
In the international market, spot gold gained USD 30.83, or 0.62 per cent, to USD 5,027.13 per ounce, while silver was trading 2.55 per cent higher at USD 80.5 per ounce.
“Gold has rebounded above USD 5,020 per ounce, while silver has also surged to around USD 81 driven by rising concerns over a potential US-Iran conflict,” Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said.
She added that investors remained cautious ahead of key economic releases, including Personal Consumption Expenditures (PCE) inflation, Q4 GDP, and flash PMI data.
Gaurav Garg, Research Analyst at Lemonn Markets Desk, said the uptick in bullion prices comes after recent consolidation, with buyers stepping in on dips following sharp volatility earlier this month.
Global cues, including geopolitical tensions and expectations around US interest rates, continue to drive near-term sentiment, he added.
“Despite intermittent corrections, the broader trend for precious metals remains supportive. Investors are viewing current moves as part of a consolidation phase rather than a reversal,” Garg said.
