Gold price today at Rs 52,960 per 10 gm, silver trending at Rs 67,000 a kg

Gold price today jumped to Rs 52,960 from Rs 52,750 per 10 gm, while silver was trending at Rs 67,000 per kg, according to the Good Returns website.

Gold jewellery price vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.

In New Delhi, the gold price of 22-carat is at Rs 48,760 per 10 gm, while in Chennai it jumped to Rs 46,950. In Mumbai, the rate was Rs 48,710 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 51,220 per 10 gm.  Gold prices rose Rs 194 to Rs 49,455 per 10 gram in the national capital on Thursday, tracking firm overseas trend, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 49,261 per 10 gram. Silver prices also gained Rs 1,184 to Rs 66,969 per kilogram from Rs 65,785 per kilogram in the previous trade.

In the international market, Gold prices rose over 1% to a one-month peak on Thursday as the dollar spiralled lower on hopes of more coronavirus relief aid and the U.S. Federal Reserve's pledge to funnel more cash and keep interest rates low.

"A combination of an additional stimulus package along with additional bond buying and asset purchases from the Fed has clearly driven gold and silver prices higher," said David Meger, director of metals trading at High Ridge Futures.

An additional stimulus relief package is weighing on the dollar due to more money being pumped into the supply, Meger added.

Lawmakers sought to hammer out a $900 billion Covid-19 aid bill with a Friday deadline to avert a government shutdown looming, buoying gold prices and sending the dollar to a multiyear trough. With interest rates anchored at zero, the Fed vowed to keep pumping cash into financial markets until the U.S. economy's recovery is secure.