Gold rises Rs 86; silver tanks Rs 522

Gold prices rose by Rs 86 to Rs 48,555 per 10 gram in the national capital on Tuesday on local demand and rupee depreciation, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 48,469 per 10 gram.

Silver declined by Rs 522 to Rs 63,907 per kg from Rs 64,429 per kg in the previous trade.

The rupee declined by 16 paise to 74.67 against the US dollar on Tuesday.

In the international market, gold was trading lower at USD 1,841 per ounce and silver was flat at USD 23.78 per ounce.

"Gold prices traded weak with spot gold prices at COMEX trading marginally down at USD 1,841 per ounce on Tuesday," Tapan Patel, Senior Analyst (Commodities), HDFC securities said.