Gold rises Rs 50; silver remains flat

Gold price rose Rs 50 to Rs 62,200 per 10 grams in the national capital on Wednesday amid gains in precious metal’s price in international markets, according to HDFC Securities. The yellow metal had closed at Rs 62,150 per 10 grams in the previous trade.

However, silver remained flat at Rs 76,400 per kilogram.

In the overseas markets, gold and silver were up at USD 1,999 per ounce and USD 23.70 per ounce, respectively.

Gold extended gains for the second day in a row due to various factors, including a drop in US Treasury yields, HDFC Securities’ Senior Analyst of Commodities Saumil Gandhi, said.

Meanwhile, in futures trade, the December contract of gold rose Rs 19 to Rs 61,244 per 10 grams on the MCX.

However, the December contract of silver fell Rs 81 to Rs 73,223 per kilogram on the bourses.