Gold rises Rs 473; silver jumps Rs 1,216

Gold price rose by Rs 473 to Rs 54,195 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 settled at Rs 53,722 per 10 grams.

Silver also jumped by Rs 1,216 to Rs 66,064 per kg.

''The signs of inflation coming down, weakness in the dollar index and good physical gold demand continue to support the domestic gold prices,'' Dilip Parmar, Research Analyst at HDFC Securities said.

In the international market, gold was trading higher at USD 1,801.25 per ounce while silver was up at USD 22.73 per ounce.

''Gold and silver price continue to trade in the positive zone as the dollar weakened on the prospect of slower rate hikes from the Federal Reserve and signs of cooling US inflation,'' said Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services.