Gold gains Rs 255; silver zooms Rs 1,610

New Delhi, Gold prices rose by Rs 255 to Rs 51,783 per 10 grams in the national capital in line with strong global cues, according to Securities. The precious metal had closed at Rs 51,528 per 10 grams in the previous trade.

Silver also surged by Rs 1,610 to Rs 58,387 per kg from Rs 56,777 per kg in the previous trade.

In the international market, gold was trading higher at USD 1,762 per ounce while silver was flat at USD 20.10 per ounce.

“Gold prices rallied on safe haven buying after US economy technically slipped into recession with GDP contracting for the second month,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

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