Gold price climbed Rs 50 to Rs 59,300 per 10 gram in the national capital on Monday, according to HDFC Securities. The precious metal had ended at Rs 59,250 per 10 gram in the previous trade.
However, silver remained flat at Rs 73,500 per kilogram.
Gold was trading slightly higher amid a weaker rupee and risk-averse sentiments, Dilip Parmar, Research Analyst at HDFC Securities, said.
In the global markets, gold was down at USD 1,888 per ounce, while silver was flat at USD 22.75 per ounce.
“Gold traded steady after marking its third straight weekly dip as sound US economic data raised bets for interest rates staying higher for longer.
“Investors’ focus will be on the Federal Reserve chair Jerome Powell’s speech on Friday, as central bankers from around the world assemble in Jackson Hole for their annual conference,” said Navneet Damani, Senior vice-president, Commodity Research at Motilal Oswal Financial Services.