Gold gains Rs 177; silver advances Rs 1,022

Gold price in the national capital rose Rs 177 to Rs 50,869 per 10 grams on Tuesday amid a rise in the prices of the precious metal in the international market, according to Securities. In the previous trade, the yellow metal price had touched Rs 50,692 per 10 grams.

Silver price increased Rs 1,022 to Rs 59,000 per kilogram from Rs 57,978 per kilogram.

In the international market, gold was trading higher at USD 1,649.8 per ounce while silver was up at USD 19.75 per ounce.

“COMEX gold started the November month on a positive note after marking the seventh straight month of decline, the longest losing streak since at least late 1960, ahead of yet another rate hike by the Federal Reserve expected this week,” Dilip Parmar, Research Analyst at HDFC Securities, said.
The outlook of the yellow metal will be determined by the direction of the dollar and the US Fed’s actions, he added. PTI DRR RAM