Gold rises Rs 205; silver declines Rs 30

Representative image

Gold prices rose by Rs 205 to Rs 55,210 per 10 grams in the national capital on Friday amid positive global trends, according to HDFC Securities.

The precious metal had touched Rs 55,005 per 10 grams in the previous trade.

Silver, however, declined by Rs 30 to Rs 69,698 per kg.

"COMEX gold heads for a second weekly gain after US job data eased concern that a hot labour market would lead to hawkish Fed," an analyst at HDFC Securities said.

In the overseas market, gold was trading in green at USD 1,817.4 per ounce while silver was marginally down at USD 23.83 per ounce.

"Gold edged higher, helped by a dip in the dollar as initial unemployment claim data pointed to a cooling off in the US labour market, easing worries about harsher Federal Reserve rate hikes next year," Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, said.