Gold rises Rs 514 to Rs 50,297 per 10 gram; silver zooms by Rs 2,249

Representational Image (Reuters)

New Delhi: Gold prices in the national capital jumped Rs 496 to Rs 50,297 per 10 gram on Monday in line with a rally in international precious metal prices and rupee depreciation, according to HDFC Securities.

The precious metal had closed at Rs 49,801 per 10 gram in the previous trade.

Silver also gained Rs 2,249 to Rs 69,477 per kg, from Rs 67,228 per kg in the previous trade.

The rupee declined 17 paise to 73.73 against a US dollar in the opening trade on Monday.

In the international market, gold was quoting with gains at USD 1,898 per ounce and silver was also trading in the green at USD 26.63 per ounce.

HDFC Securities, Senior Analyst (Commodities) Tapan Patel said gold prices traded higher on worries over rising coronavirus cases, which weigh down vaccine rollout sentiments.

The UK imposes strict lockdown measures, while restrictions in Europe and other parts of the world may flag economic recovery concerns, he added.