Gold marginally higher by Rs 30; silver gains Rs 596

Gold rose by Rs 30 to Rs 51,827 per 10 grams in the national capital on Friday following overnight gains in the precious metal in global markets, according to HDFC Securities.

In the previous trade, gold settled at Rs 51,797 per 10 grams.

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Silver also spurted by Rs 596 to Rs 69,089 per kg from Rs 68,493 per kg in the previous trade on industrial demand.

In the international market, both gold and silver were trading flat at USD 1,956 per ounce and USD 25.54 per ounce, respectively.

"Gold prices traded steady with spot gold prices at COMEX trading at USD 1,956 per ounce on Friday," said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

According to Navneet Damani, Senior VP, Commodities Research, Motilal Oswal Financial Services, "Gold is on course for a third weekly gain in four, as the Russia-Ukraine conflict escalated while the spike in oil prices this week increased demand for bullion as a safe-haven asset and an inflation hedge."