Despite Re rise, precious metals gain

Gold in the national capital on Tuesday jumped Rs 170 to Rs 46,544 per 10 grams despite rupee appreciation. In the previous trade, the precious metal had closed at Rs 46,374 per 10 grams. Silver also gained Rs 172 to Rs 61,584 per kg, from Rs 61,412 per kg in the previous trade. The rupee appreciated 9 paise to 74.13 against the US dollar in opening trade on Tuesday. In the international market, gold was trading lower at USD 1,801 per ounce and silver was marginally down at $23.60 per ounce. HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "gold prices traded marginally down with spot gold prices at COMEX trading near $1,801 per ounce on Tuesday." Gold futures fell Rs 98 to Rs 47,486 per 10 gram on MCX as speculators reduced their positions amid low demand.