Gold Jumps Rs 128; Silver Declines Rs 38

New Delhi: Gold prices rose by Rs 128 to Rs 57,275 per 10 grams in the national capital on Tuesday amid firm global trends, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 57,147 per 10 grams. Silver, however, declined by Rs 38 to Rs 67,975 per kg.

"Spot gold prices in the Delhi markets traded at Rs 57,275 per 10 grams, up Rs 128 per 10 grams," said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.

In the overseas markets, gold was trading higher at USD 1,874 per ounce while silver was flat at USD 22.42 per ounce.

"Comex gold prices traded in the green in Asian trading hours on Tuesday.

"Gold prices should consolidate in range for the day as investors eyeing Federal Reserve Chair Jerome Powell's speech later in the day to gauge the US central bank's monetary policy path after the latest stronger non-farm payrolls data," Gandhi said.

"Focus this week will be on the RBI's monetary policy committee meeting. Broader trend on COMEX could be in the range of USD 1,855 - USD 1,895 and on the domestic front prices could hover in the range of Rs 56,600 - Rs 57,350 could be expected," Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services, said.