Gold prices soar Rs 187, silver also jumps Rs 495

Spot gold for 24 Karat in Delhi was trading higher by Rs 187 with a rally in international prices and rupee depreciation, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

New Delhi: Gold prices soared Rs 187 to Rs 39,053 per 10 gram in the national capital on Monday following a rally in international prices and rupee depreciation, according to HDFC Securities.

On Saturday, the precious metal had closed at Rs 38,866 per 10 gram.

Spot gold for 24 Karat in Delhi was trading higher by Rs 187 with rally in international prices and rupee depreciation, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee was trading around 5 paise weaker against the dollar during the day, he added.

Silver also jumped Rs 495 to Rs 46,499 per kg compared to the previous close of Rs 46,004 per kg.

In the international market, gold was trading higher at USD 1,484 per ounce, while silver was quoting at USD 17.36 per ounce.

"Gold prices traded higher as investors rushed for safer assets against prevailing market uncertainty ahead of Christmas holidays," Patel added.