Todays Gold, Silver Price Delhi: Big Jump In Silver, Marginal Dip In Precious Metal

Gold prices in Delhi declined Rs 10 to Rs 50,783 per 10 grams on Tuesday amid appreciation in rupee, according to HDFC Securities.

In the previous trade, the yellow metal had closed at Rs 50,793 per 10 grams. Silver, however, climbed Rs 774 to Rs 57,064 per kilogram from Rs 56,290 per kg, according to a PTI report.

The rupee appreciated 22 paise to 82.08 against the US dollar in early trade on Tuesday, tracking positive domestic equities and an overnight fall in the dollar index, added the PTI report.

In the international market, gold was trading in green at USD 1,657 per ounce while silver was up at USD 18.91 per ounce.

"Spot COMEX gold last traded at USD 1,657 an ounce slightly lower from Monday evening while silver prices rose the following strength in base metal. In the near term, gold is expected to trade in a range with a positive bias on the back of a weaker dollar and a slide in Treasuries along with the strong physical gold demand," said Dilip Parmar, Research Analyst at HDFC Securities.

Gold is one of the most sought-after assets during vulnerable times. The investment in the precious metal has grown across the globe year on year basis. Since 2001, the metal has witnessed a growth of around 15% every year. The unique property of the jewellery metal of safe haven has renewed focus on effective risk management, since the financial crisis rocked the markets way back in 2008-2009.

India which is the gold loving county has greater affinity towards the metal. It has a dual nature as an investment option and a luxury good. The value of metal has grown phenomenally over the years and hence the metal is one of the safest bet to invest in as an asset.