Gold jumps Rs 300; silver climbs Rs 500

Silver also witnessed an increase of Rs 500 to Rs 75,000 per kilogram.

Gold price jumped Rs 300 to Rs 62,000 per 10 grams in the national capital on Thursday amid strong cues in international markets, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 61,700 per 10 grams.

Gold rallied as tensions escalated in the Middle East after a report said that the US was deploying missiles in the region, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. Even though US Treasury yields have steadied near the recent high and uptick in the US dollar, geopolitical fears are still driving the gold price, he said.

Silver also witnessed an increase of Rs 500 to Rs 75,000 per kilogram. In the global markets, gold and silver were quoting higher at USD 1,988 per ounce and USD 23.05 per ounce, respectively.