Gold, silver gain marginally on lower US treasury yields

Gold in the national capital on Thursday was marginally up by Rs 9 to Rs 46,981 per 10 gram with firm global trends and rupee depreciation. In the previous trade, the precious metal had closed at Rs 46,972 per 10 grams. Silver, however, declined Rs 902 to Rs 67,758 per kilogram from Rs 68,660 per kilogram in the previous trade. The rupee depreciated 17 paise to 74.79 against the US dollar in opening trade on Thursday. In the international market, gold was trading higher at $1,807 per ounce and silver was flat at $26 per ounce.

"Gold prices were supported by fall in US treasury yields," according to HDFC Securities, senior analyst (commodities), Tapan Patel. Navneet Damani, V-P (commodities research), Motilal Oswal Financial Services, said: "Gold traded steady hovering above $1,800 as lower US treasury yields countered a stronger dollar."