Gold rises marginally, silver gains Rs 451

Gold prices rose marginally by Rs 3 to Rs 50,114 per 10 gram in the national capital on Tuesday amid choppy trade and rupee depreciation, according to HDFC Securities.

The precious metal had closed at Rs 50,111 per 10 gram in the previous trade.

Silver prices jumped Rs 451 to Rs 62,023 per kilogram from Rs 61,572 per kilogram in the last trade.

"Spot gold prices for 24 carat in Delhi were trading marginally up by Rs 3 on choppy global gold prices and rupee depreciation. The spot rupee was trading around 12 paise weaker against the dollar for the day," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the global market, gold was trading slightly higher at $1,877 per ounce, while silver was quoting almost flat at USD 24.20 per ounce.

Gold prices traded steady on Tuesday morning as investors turned their focus to broad market fundamentals over dovish US Fed, stimulus hopes and Covid-19 infection worries. The prices may trade sideways to higher in the current range awaiting fresh triggers form the market, Patel added.