Gold rises by Rs 103; silver gains Rs 793

Gold prices rose Rs 103 to Rs 51,286 per 10 gram in the national capital on Monday supported by strong global trends and rupee depreciation, according to HDFC Securities.

The precious metal had closed at Rs 51,183 per 10 gram in the previous trade.

Silver also gained Rs 793 to Rs 62,155 per kilogram, from Rs 61,362 per kilogram in the previous trade.

"Spot gold prices for 24 karat in Delhi were up by Rs 103, supported by strong global gold prices and rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee depreciated 32 paise and settled at 74.42 (provisional) against the US dollar on Monday tracking strong American currency.

In the international market, gold traded with gains at USD 1,885 per ounce and silver was flat at USD 23.83 per ounce.

Gold prices traded up despite stronger dollar amid uncertainty over US presidential elections and fear of more lockdown measures in Europe, he added.