NEW DELHI: Gold prices rose by Rs 121 to Rs 56,236 per 10 grams in the national capital on Friday amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 56,115 per 10 grams. Silver, however, declined Rs 145 to Rs 68,729 per kg.
In the overseas market, gold was trading in green at USD 1,898 per ounce while silver was flat at USD 23.73 per ounce. ''Gold prices edged higher and were on track for a fourth weekly gain, supported by a weaker dollar and expectations of slower interest rate hikes by the US Fed Reserve,'' said Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services.
Focus will be on UK GDP and US Michigan inflationary expectations, Damani said.