New Delhi: Silver prices climbed more than 6 per cent to Rs 2.72 lakh per kilogram in the national capital on Monday, while gold rose nearly 1 per cent to Rs 1.58 lakh per 10 grams, driven by firm global trends and a weaker US dollar.
According to local marketmen, the white metal climbed Rs 17,000, or 6.66 per cent to Rs 2,72,000 per kilogram (inclusive of all taxes), from Friday’s closing level of Rs 2,55,000 per kg.
In addition, gold of 99.9 per cent purity increased Rs 1,300, or 0.83 per cent to Rs 1,58,500 per 10 grams (inclusive of all taxes). It had closed at Rs 1,57,200 per 10 grams in the previous session.
In the international market, spot silver gained $2.19, or 2.81 per cent, to $80.21 per ounce, while gold was trading 1 per cent higher at $5,012.94 per ounce.
Spot gold is trading with gains to trade around $5,012 per ounce. The precious metal rose nearly 4 per cent last week, and is drawing support from China’s central bank PBoC buying gold for the 15th straight month in January and a weaker US dollar, Praveen Singh, Head of Commodities, Mirae Asset ShareKhan, said. However, on the flip side, geopolitical tensions remain contained as Iran-US negotiations, despite wide differences on certain issues, are likely to continue, Singh added.