Gold prices rise by Rs 94 on global trends

New Delhi: Gold prices rose by Rs 94 to Rs 48,388 per 10 gram in spot markets here on Tuesday on the back of positive global cues, according to HDFC Securities.

In the previous trade, the precious metal had settled at Rs 48,294 per 10 grams.

Silver, however, declined by Rs 88 to Rs 65,489 per kg from Rs 65,577 per kg in the previous trade.

In the international market, gold traded higher at USD 1,866 per ounce and silver was flat at USD 25.09 per ounce.

“Gold prices traded firm with spot gold prices at COMEX trading 0.18 percent up at USD 1,866 per ounce on Tuesday. Gold prices have held strong trading range capping downside despite a strong dollar and firm US bond yields on inflation worries,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

In futures trade, the December contract of gold traded marginally higher by Rs 9 at Rs 49,307 per 10 gram on MCX.