Gold gains Rs 297; silver jumps Rs 1,404

Gold prices in the national capital jumped for the second consecutive day on Tuesday gaining Rs 297 to Rs 48,946 per 10 gram, in line with rally in international precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 48,649 per 10 gram. Silver also gained Rs 1,404 to Rs 65,380 per kg, from Rs 63,976 per kg in the previous trade.

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In the international market, both gold and silver were trading in the green at USD 1,858 per ounce and USD 25.39 per ounce, respectively.

"Gold prices gained strength as investors turned cautious over rising coronavirus cases across the world. The revisited pandemic fears raised concerns over economic recovery which boosted buying in bullion prices," said HDFC Securities Senior Analyst (Commodities) Tapan Patel.

The story has been taken from a news agency