Gold prices rose for the third consecutive day gaining Rs 347 to Rs 48,758 per 10 gram in the national capital on Wednesday, in line with rally in global precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 48,411 per 10 gram. Silver also witnessed buying as it gained Rs 606 to Rs 65,814 per kg from Rs 65,208 per kg in the previous trade.
In the international market, both gold and silver were quoting with gains at USD 1,854 per ounce and USD 25.28 per ounce, respectively.
Navneet Damani, vice-president (commodities research) of Motilal Oswal Financial Services, said, "Gold prices edged higher, reacting to US Treasury Secretary nominee Janet Yellen's plans to fight the coronavirus-induced economic crisis with big spending."
(With PTI Inputs)
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