Gold marginally higher by Rs 34; silver declines by Rs 390

Gold in the national capital on Tuesday gained marginally by Rs 34 to Rs 51,046 per 10 grams in line with firm global trends along with rupee depreciation, according to Securities. In the previous trade, the precious metal settled at Rs 51,012 per 10 grams.

In contrast, silver declined by Rs 390 to Rs 61,657 per kg from Rs 62,047 per kg in the previous trade.

The rupee depreciated 12 paise to close at 77.66 (provisional) against the US dollar on Tuesday, tracking a negative trend in domestic equities and surging crude oil prices.

In the international market, gold was trading higher at USD 1,856 per ounce and silver was flat at USD 21.94 per ounce.

“Gold prices traded firm with spot gold prices at COMEX trading marginally up at USD 1,856 per ounce on Tuesday,” said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.