Modest recovery in gold prices

New Delhi: Gold edged higher by Rs50 to Rs62,800 per 10 grams in the national capital on Tuesday amid gains in the precious metal prices internationally, according to HDFC Securities.

In the previous trade, the yellow metal had closed at Rs62,750 per 10 grams. However, silver slumped Rs250 to Rs77,700 per kilogram, while it had settled at Rs77,950 per kg in the previous close.

HDFC Securities' senior analyst of commodities Saumil Gandhi said gold prices traded slightly up on Tuesday in the Delhi markets, trading at Rs62,800/10 grams, up Rs50 against the previous close.

In the futures trade, the February contract of gold fell Rs84 to Rs62,207 per 10 grams on the MCX. However, the March contract for silver jumped Rs172 to Rs74,582 per kilogram on the bourse. In the overseas markets, gold was up at $2,026 per ounce, while silver was trading lower at $23.88 per ounce.