Gold rises marginally by Rs 37, silver declines by Rs 915

Gold prices rose marginally by Rs 37 to Rs 51,389 per 10 gram in the national capital on Thursday in line with a positive global trend, according to HDFC Securities.

Stronger rupee, however, kept upside limited in the precious metal.

The yellow metal had closed at Rs 51,352 per 10 gram in the previous trade.

Silver prices, however, declined Rs 915 to Rs 61,423 per kilogram from Rs 62,338 per kilogram in the previous trade.

"Spot gold prices for 24 carat in Delhi were marginally up by Rs 37 as stronger rupee kept upside limited," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee strengthened by 63 paise and closed for the day at 73.13 (provisional) against the US dollar on Thursday as positive domestic equities and weak American currency buoyed investor sentiments.

In the international market, gold was trading with gains at $1,895 per ounce, while silver was quoting flat at $23.60 per ounce.

Gold prices traded higher on Thursday on uncertainty over US stimulus and dollar fluctuations, Patel added.