Precious metals recover: Gold rallies Rs 446; silver zooms Rs 888

PTIUpdated: Wednesday, August 18, 2021, 12:03 AM IST
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In the international market, gold was trading higher at $1,793 per ounce and silver was flat at $23.88 per ounce/ Representational image | Photo credit: AFP

Gold prices in the national capital rallied by Rs 446 to Rs 46,460 per 10 grams on Tuesday, with recovery in global precious metal prices and rupee depreciation, according to HDFC Securities.

In the previous trade, the precious metal had ended at Rs 46,014 per 10 grams.

Silver also gained Rs 888 to Rs 62,452 per kg, from Rs 61,564 per kg in the previous trade.

The Indian rupee declined 3 paise to 74.27 against the US dollar in opening trade on Tuesday, tracking the firm American currency.

In the international market, gold was trading higher at $1,793 per ounce and silver was flat at $23.88 per ounce.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said gold prices extended gains on worries over fast spreading Delta variant cases.

Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said: "Gold prices continue to trade higher, hovering over one-week peak, as the safe-haven demand amid rising Delta variant cases offsets pressure from a firmer dollar."

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