Gold climbs Rs 570, silver zooms Rs 190

New Delhi, Nov 26 (PTI): Gold prices in the national capital rallied by Rs 570 to Rs 47,155 per 10 grams on Friday in line with gains in metal prices in the global markets and a fall in the rupee against the US dollar, according to HDFC Securities.
In the previous trade, the precious metal had settled at Rs 46,585 per 10 gram. Silver also jumped Rs 190 to Rs 62,145 per kg from Rs 61,955 per kg in the previous trade.
The rupee depreciated by 16 paise to 74.68 against the US dollar in opening trade on Friday.
In the international market, gold was trading with gains at USD 1,808 per ounce and silver was flat at USD 23.70 per ounce. “Gold prices traded higher with spot gold prices at COMEX trading 1 per cent up at USD 1,808 per ounce on Friday. The softer dollar and fall in US bond yields have supported gold prices to trade up,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. Gold prices on Friday rose by Rs 634 to Rs 48,055 per 10 gram in futures trade as speculators created fresh positions amid firming spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 634, or 1.34 per cent, to Rs 48,055 per 10 gram in a business turnover of 2,258 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said.
Silver futures on Friday eased by Rs 158 to Rs 62,992 per kg as participants reduced their bets on low demand.
On the Multi Commodity Exchange, silver contracts for December delivery tumbled by Rs 158, or 0.25 per cent, to Rs 62,992 per kg in a business turnover of 4,015 lots.
The metal traded lower by 0.05 per cent at USD 23.53 per ounce in New York.