Gold price rises by Rs 45; silver gains Rs 407

Gold prices rose by Rs 45 to Rs 48,273 per 10 gram in the national capital on Wednesday following a recovery in the precious metal in the global markets, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,228 per 10 gram.

\Silver also gained Rs 407 to trade at Rs 59,380 per kg from Rs 58,973 per kg in the previous trade. In the international market, gold was trading with gains at USD 1,812 per ounce and silver was flat at USD 23.34 per ounce.

"Gold prices pared morning losses and traded up as investors weighed vaccine progress and stimulus hopes as Joe Biden started White House transition," HDFC Securities Senior, Analyst (Commodities) Tapan Patel said.