Bullion Market Closing: Gold Prices Up Rs 50 On Rise In Demand

Gold prices on Tuesday went up by Rs 50 to Rs 38,810 per 10 gram here following rise in demand, according to HDFC Securities.

“Spot gold for 24 Karat in Delhi was trading up by Rs 50 with rise in spot demand. Spot gold jewellery consumption is set to rise ahead of the auspicious day of Dhanteras,” HDFC Securities, senior analyst - Commodities, Tapan Patel said.

The yellow metal had closed at Rs 38,760 per 10 gram in the previous trade.

Similarly, silver also gained Rs 160 to Rs 46,690 per kg. It had closed at Rs 46,530 per kg in the previous trade in the national capital.

In the international market, gold was quoting higher at USD 1,488 per ounce, while silver was trading at USD 17.64 an ounce.

“International gold prices traded firm, hovering in the narrow range near USD 1,488, awaiting fresh triggers from global cues. Gold prices have kept downside limited on global economic recovery concerns in line with weak economic data from the US and China,” he added.