New Delhi | Jagran Business Desk: The Gold prices edged higher by Rs 418 to Rs 52,963 per 10 grams in the national capital on Tuesday amid a rally in demand of the yellow metal in the global market, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 52,545 per 10 grams. Silver price also jumped Rs 2,246 to Rs 72,793 per kilogram as the metal attracted heavy buying interest. On Monday, it had closed at Rs 70,547 per kilogram.

"Spot gold prices for 24 carat in Delhi were higher by Rs 418 with rally in international prices. However, the upside in gold prices in India was capped with gains in rupee," HDFC Securities Senior Analyst (Commodities) Tapan Patel told news agency PTI.

With the economic activity coming to a standstill in many countries due to COVID-19, investors have been leaning towards the safe-haven of the yellow metal.

The rupee strengthened 73 paise and crossed the crucial 73-mark against the US dollar on Tuesday on the back of a weak American currency and positive domestic equities. In the global market, gold was trading with gains at USD 1,988 per ounce and silver was marginally up at USD 28.77 per ounce."Gold prices extended gains with dollar decline," Patel said.

(with agency inputs)

Posted By: Rakesh Kumar Jha