Gold, silver recover as bond yields ease

New Delhi: Gold in the national capital on Thursday rose by Rs65 to Rs46,012 per 10 gram in line with a jump in international precious metal prices.

In the previous trade, the precious metal had settled at Rs 45,947 per 10 gram. Silver also gained Rs 490 to Rs 60,172 per kilogram from Rs 59,682 per kilogram in the previous trade.

In the international market, gold traded in the green at $1,766 per ounce and silver flat at $22.74 per ounce. "Gold prices traded firm with spot gold prices at COMEX trading up at $1,766 per ounce on Thursday.

Gold prices witnessed recovery with fall in the dollar index and weaker US bond yields," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. Gold futures fell Rs33 to Rs46,874 per 10 grams in the futures trade, as speculators reduced their positions amid low demand.

Analysts attributed the fall in gold prices to trimming of positions by participants. Globally, gold traded 0.07 per cent lower to 41,760.50 an ounce in New York.

Silver futures rose Rs 237 to Rs 61,243 per kg in the futures trade as participants widened their bets on a firm spot demand.

Silver contracts on MCX for the December delivery gained Rs 237, or 0.39 per cent, to Rs 61,243 per kg in 11,135 lots.