Gold rises by Rs 423 to Rs 49,352 per 10 gram

New Delhi: Gold prices rose by Rs 423 to Rs 49,352 per 10 gram in the national capital on Wednesday following rally in global prices and pause in rupee appreciation, according to HDFC Securities.

On Tuesday, the yellow metal had closed at Rs 48,929 per 10 gram.

The rupee on Wednesday erased its initial gains and provisionally settled 6 paise lower at 75.72 against the US dollar, tracking volatile domestic equities amid strong US dollar.

Silver also gained Rs 174 to Rs 49,840 per kg from Rs 49,666 per kg in the previous trade.

In the international market, gold was quoting with gains at USD 1,770 per ounce, while silver was trading flat at USD 17.87 per ounce.

Gold prices continued the upside trend amid rising virus cases worldwide, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.