Gold rises Rs 761; silver jumps Rs 1,308

Gold in the national capital rose by Rs 761 to Rs 48,414 per 10 gram on Tuesday. Silver also jumped Rs 1,308 to Rs 49,204 per kg from Rs 47,896 per kg.

New Delhi: Gold in the national capital rose by Rs 761 to Rs 48,414 per 10 gram on Tuesday in-tandem with spike in international prices of the precious metal and rupee depreciation, according to HDFC Securities.

In the previous trade, the yellow metal had closed at Rs 47,653 per 10 gram. The rupee dropped by 17 paise to close at 76.20 against the US dollar on Tuesday.

Silver also jumped Rs 1,308 to Rs 49,204 per kg from Rs 47,896 per kg on Monday.

In the international market, gold was quoting higher at USD 1,731 per ounce and silver at USD 17.49 per ounce.

"Gold prices resumed uptrend on Tuesday after the US Fed announced to expand the bond buying program," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Gold prices fell by Rs 380 to Rs 47,900 per 10 gram in the national capital on Monday following decline in global prices.

Gold ETFs attract Rs 815 crore inflows in May on safe haven appeal

Gold exchange traded funds saw net inflows of Rs 815 crore in May as investors preferred safe haven options amid stock market volatility and the coronavirus crisis.

The category has been one of the better performing asset classes since last year. Since August 2019, gold ETF segment has received net inflows of Rs 3,299 crore.

According to latest data available with the Association of Mutual Funds in India (Amfi), a net sum of Rs 815 crore was pumped into gold-linked ETFs in May, much higher than the net Rs 731 crore infused in April.

However, the category had seen a net outflow of Rs 195 crore in March.

Prior to this,gold ETFs had seen hefty inflows of Rs 1,483 crore in February and Rs 202 crore in January.

(PTI Report)