Gold price climbs โ‚น418 on global trends

Gold price rose by โ‚น418 to โ‚น52,963 per 10 grams in the national capital on Tuesday following a rally in the yellow metal in the international market, according to HDFC Securities.

The precious metal had closed at โ‚น52,545 per 10 grams in the previous trade.

Silver also attracted heavy buying interest as it jumped โ‚น2,246 to โ‚น72,793 per kilogram. It had closed at โ‚น70,547 per kilogram on Monday.

โ€œSpot gold prices for 24 carat in Delhi were higher by โ‚น418 with rally in international prices. However, the upside in gold prices in India was capped with gains in rupee,โ€ HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee strengthened 73 paise and crossed the crucial 73-mark against the U.S. Dollar on Tuesday on the back of a weak American currency and positive domestic equities.

In the global market, gold was trading with gains at $1,988 per ounce and silver was marginally up at $28.77 per ounce.

โ€œGold prices extended gains with dollar decline,โ€ Mr. Patel said.

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