Gold gains Rs 107; silver jumps Rs 563

Gold rose by Rs 107 to Rs 51,092 per 10 gram in the national capital on Tuesday amid depreciation in the rupee, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 50,985 per 10 gram.

Silver also jumped by Rs 563 to Rs 54,639 per kg.

The rupee depreciated by 12 paise to 79.90 against the US dollar in opening trade on Tuesday, weighed down by strength of the American currency in the overseas market.

In the international market, gold was trading higher at USD 1,715 per ounce while silver was trading flat at USD 18.41 per ounce. “Gold prices rebounded on safe haven buying with surge in energy cost in Europe after Russia shut supply of natural gas from key pipeline,” said Tapan Patel, Senior Analyst (Commodities) at Securities.