Gold rises Rs 50; silver remains flat

New Delhi, Jan 31 (PTI) Gold prices rose Rs 50 to Rs 63,350 per 10 grams in the national capital on Wednesday amid gains in precious metal prices globally, according to HDFC Securities.

The yellow metal had closed at Rs 63,300 per 10 grams in the previous trade.

However, silver prices remained flat at Rs 76,700 per kilogram.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 63,350 per 10 grams, up Rs 50 against the previous close,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at USD 2,040 per ounce, up USD 2 from the previous close.

Gold traded with modest gains on Wednesday, however, trading volumes remained low as traders avoided directional bets before the most-awaited US Federal Reserve’s FOMC (Federal Open Market Committee) meeting policy outcome, Gandhi added.

However, silver remained flat at USD 23.12 per ounce.

Traders expect gold and silver prices to remain volatile this week, amid volatility in the dollar index and the outcome of the FOMC meeting, Rahul Kalantri, Vice President of Commodities at Mehta Equities Ltd, said.