NEW DELHI: Gold and silver gained on Friday following the trend in global markets after amid fast rising covid cases and renewed trade tensions between the US and China.

US President Donald Trump signalled a further deterioration of his relationship with China over the virus, saying he has no interest in speaking to President Xi Jinping right now and going so far as to suggest he could even cut ties with Beijing.

Gold futures were up 0.21 per cent or Rs 96 at Rs 46,750 per 10 grams. Silver futures gained 1.54 per cent or Rs 679 to Rs 44,814 per kg.



Spot gold markets remained shut due to lockdown in the country to check the spread of coronavirus, according to HDFC Securities.

Globally, gold rose to hover below a three-week high hit in the previous session, underpinned by talks of further US stimulus and worsening US-China relations.

Spot gold gained 0.1 per cent to $1,730.56 per ounce by 0142 GMT, having touched a three-week high of $1,735.96 on Thursday. US gold futures climbed 0.1 per cent to $1,742.30.

The metal has gained about 1.8 per cent so far this week.

SPDR Gold Trust holdings, the world's largest gold-backed exchange-traded fund, rose 1.15 per cent to 1,104.72 tonnes on Thursday.

Palladium gained 0.3 per cent to $1,840.42 an ounce, but was on track to post its seventh straight weekly loss. Platinum eased 0.1 per cent to $767.29, while silver rose 0.7 per cent to $15.97.