Gold jumps Rs 905, silver zooms Rs 3,347

Gold prices in the national capital continued to hit new highs, rising by Rs 905 to Rs 52,960 per 10 gram on Monday, in line with the rally in international market, according to HDFC Securities.

The yellow metal had closed at Rs 52,055 per 10 gram in the previous trade.

Silver was also in huge demand as it zoomed by Rs 3,347 to Rs 65,670 per kg from Rs 62,323 per kg in the previous trade.

"Spot gold prices for 24 carat in Delhi continued to hit new highs, witnessing a jump of Rs 905 with rally in international prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, gold was quoting higher at USD 1,935 per ounce, while silver was trading with gains at USD 24 per ounce.

Gold prices traded higher on concerns over sluggish economic recovery, Patel said.

Concerns over growing US-China friction have also led to safe-haven buying in metals.