Gold climbs Rs 380; silver advances Rs 100

Gold prices climbed Rs 380 to Rs 62,150 per 10 grams in the national capital on Tuesday amid strong global cues, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 61,770 per 10 grams.

Silver also edged up by Rs 100 to Rs 76,400 per kilogram.

In the global markets, both gold and silver were trading higher at USD 1,992 per ounce and USD 23.66 per ounce, respectively.

Gold prices surged to a fresh swing high as the dollar and Treasury yields fell in the wake of expectations that Federal Reserve was done with raising interest rates, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

Traders will focus on minutes of the Federal Open Market Committee (FOMC) meeting which is going to be released later in the day for cues on monetary policy rate outlook, Gandhi said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)