Precious metals gain as US treasury yields fall

Gold in the national capital on Thursday rallied Rs 422 to Rs 45,560 per 10 gram amid gain in global precious metal prices. In the previous trade, the precious metal had closed at Rs 45,138 per 10 gram. Silver also gained Rs 113 to Rs 61,314 per kilogram from Rs 61,201 per kilogram in the previous trade. In the international market, gold was trading with gains at $ 1,756 per ounce and silver was flat at $23.44 per ounce. "Gold prices witnessed recovery on softer dollar and fall in US treasury yields," said Tapan Patel, senior analyst (commodities) at HDFC Securities.

Gold futures prices surged Rs 77 to Rs 46,465 per 10 gram on MCX as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for the October delivery traded higher by Rs 77, or 0.17 per cent, at Rs 46,465 per 10 gram in a business turnover of 13,273 lots.