Gold rallies by Rs 176 on global cues

New Delhi: Gold prices rose by Rs 176 to Rs 47,881 per 10 grams in the national capital on Monday in line with gains in the precious metal in the global markets and a weaker rupee, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,705 per 10 grams.

Silver prices, however, declined by Rs 505 to Rs 61,005 per kg from Rs 61,510 per kg in the previous trade.

The rupee dipped by 9 paise to close at 74.24 (provisional) against the US dollar on Monday.

In the international market, gold was trading with gains at $1,822 per ounce and silver was flat at $23.03 per ounce.

“Gold prices traded firm with spot gold prices at COMEX trading 0.30 per cent up at $1,822 per ounce on Monday,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.