Gold rises by Rs 45, silver gains Rs 407

Gold prices rose Rs 45 to Rs 48,273 per 10 gram in the national capital on Tuesday on a positive global trend, according to HDFC Securities.

The yellow metal had closed at Rs 48,228 per 10 gram on Monday.

Silver prices also gained Rs 407 to Rs 59,380 per kg, compared with Rs 58,973 per kg in the previous trade.

“Spot gold prices for 24 karat in Delhi were trading up by Rs 45 in line with recovery in global gold prices despite rupee appreciation,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The spot rupee was trading around 4 paise stronger against the dollar during the day, he added.

In the international market, gold and silver were trading higher at USD 1,812 per ounce and USD 23.34 per ounce, respectively.

“Gold prices pared morning losses and traded up as investors weighed the vaccine progress and stimulus hopes as President-elect Joe Biden started White House transition.

“Earlier, gold prices were trading under pressure after the US officials said that they plan to release 6.4 million COVID-19 vaccine doses nationwide in an initial distribution,” Patel said.