Gold jumps Rs 154, silver rallies Rs 352

New Delhi:  Gold in the national capital on Wednesday jumped Rs 154 to Rs 46,969 per 10 grams amid a rally in international precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 46,815 per 10 grams.

Silver also rallied Rs 352 to Rs 60,725 per kg, from Rs 60,373 per kg in the previous trade.

In the international market, gold was trading with gains at USD 1,816 per ounce and silver was flat at USD 22.92 per ounce.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices traded firm, with spot gold prices at COMEX trading up at USD 1,816 per ounce on Wednesday.”

Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said, “Gold prices inched higher as surge in COVID-19 cases of the Omicron variant that could threaten global economic recovery increased the panic in market boosting appeal for demand for the safe-haven metal.