Bullion prices recover as Greenback falls

New Delhi: Gold jumped Rs110 to Rs59,410 per 10 grams in the national capital on Tuesday amid strong cues in overseas market, according to HDFC Securities.

In the previous trade, the yellow metal had closed at Rs59,300 per 10 gram. Silver also rallied Rs1,000 to Rs74,500 per kg. In the international markets, both gold and silver were trading higher at $1,897 per ounce and $23.25 per ounce, respectively. “Gold prices rebounded, helped by a weaker dollar index and safe-haven demand. Gold sellers trimmed their positions due to factors such as increased risk aversion in the market after S&P followed by Moody’s in downgrading and cutting the outlook for a slew of US banks,” said Saumil Gandhi, senior analyst (commodities) at HDFC Securities.