Gold price climbs Rs 418 on global trends

Gold price rose by Rs 418 to Rs 52,963 per 10 grams in the national capital on Tuesday following a rally in the yellow metal in the international market, according to HDFC Securities.

The precious metal had closed at Rs 52,545 per 10 grams in the previous trade.

Silver also attracted heavy buying interest as it jumped Rs 2,246 to Rs 72,793 per kilogram. It had closed at Rs 70,547 per kilogram on Monday.

"Spot gold prices for 24 carat in Delhi were higher by Rs 418 with rally in international prices. However, the upside in gold prices in India was capped with gains in rupee," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The rupee strengthened 73 paise and crossed the crucial 73-mark against the US dollar on Tuesday on the back of a weak American currency and positive domestic equities.

In the global market, gold was trading with gains at USD 1,988 per ounce and silver was marginally up at USD 28.77 per ounce.

"Gold prices extended gains with dollar decline," Patel said.