Gold rises by Rs 266 on global cues, rupee depreciation

Gold prices on Thursday rose by Rs 266 to Rs 41,484 per 10 gram in the national capital on positive global cues and rupee depreciation, according to HDFC Securities.

The precious metal had closed at Rs 41,218 per 10 gram on Wednesday.

"Spot gold for 24 karat in Delhi rose by Rs 266 with recovery in global gold prices and rupee depreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

The spot rupee was trading around 10 paise weaker against the dollar during the day, he added.

The rupee opened on a weak note and declined 9 paise to 71.42 against the US dollar in opening trade on Thursday.

Silver prices, however, fell by Rs 55 to Rs 46,630 per kg from Rs 46,685 per kg in the previous trade.

In the international market, both gold and silver were trading with gains at USD 1,574 per ounce and USD 17.64 per ounce, respectively.

"Gold prices traded higher on safe-haven buying with a rise in the number of new coronavirus cases," Patel said.