Gold price inches up; silver remains flat

New Delhi: Gold price rose Rs50 to Rs62,200 per 10 grams in the national capital on Wednesday amid gains in precious metal’s price in international markets, according to HDFC Securities.

The yellow metal had closed at Rs62,150 per 10 grams in the previous trade. However, silver remained flat at Rs76,400 per kilogram. In the overseas markets, gold and silver were up at $1,999 per ounce and $23.70 per ounce, respectively. Gold extended gains for the second day in a row due to various factors, including a drop in US Treasury yields, HDFC Securities’ Senior Analyst of Commodities Saumil Gandhi, said.

Meanwhile, in futures trade, the December contract of gold rose Rs19 to Rs61,244 per 10 grams on the MCX. However, the December contract of silver fell Rs81 to Rs73,223 per kilogram on the bourses.