New Delhi | Jagran Business desk: Gold prices on Tuesday witnesses a jump of Rs 122 to Rs 51,989 per 10 grams in the national capital on rupee depreciation, according to HDFC Securities. On Monday's trade, the yellow metal had closed at Rs 51,877 per 10 grams. The prices of silver also jumped by Rs 340 to Rs 69,325 per kilogram today.

"Spot gold prices for 24 karat in Delhi were up by Rs 122, supported by rupee depreciation," news agency PTI quoted HDFC Securities Senior Analyst (Commodities) Tapan Patel as saying.

The current jump in the price of precious metal comes amid depreciation in the value of rupee. The Indian currency on Tuesday depreciated 25 paise and settled at 73.63 (provisional) against a US dollar on Tuesday on the back of increasing demand for the US currency from banks and importers.

Earlier on Monday, Gold prices rose by Rs 258 to Rs 51,877 per 10 grams. Silver also gained Rs 837 to Rs 69,448 per kilogram.

 The yellow metal rates in the global market saw a marginal gain at USD 1,930 per ounce, while silver was flat at USD 26.91 an ounce.

Speaking with the news agency, Reliance Securities Senior Research Analyst Sriram Iyer said "International gold and silver were steady on Tuesday afternoon trade, as doubts over global economic recovery offset pressure from a stronger dollar ahead of policy strategies from central banks in Europe and North America.

 He also added that that market participants are looking forward to Bank of Canada's policy meeting on Wednesday, followed by the European Central Bank's policy decision on Thursday.

Posted By: Rakesh Kumar Jha