The demand for the yellow metal therefore may remain elevated as it considered a hedge against inflation and currency debasement, expert said.
"Spot gold prices for 24 karat gold at Delhi traded up by Rs 337 reflecting overnight gains in global gold prices," said Tapan Patel, HDFC Securities
The precious metal had closed at Rs 45,735 per 10 grams in the previous trade
Rising bond yield and recovery in economies seem to be affecting gold and silver demand, said Anuj Gupta, Deputy Vice- President, Commodity and Curren
Watch the interview of Tapan Patel, senior research analyst of HDFC Securities to know how to invest in virtual gold.
In the previous trade, it had closed at Rs 45,807 per 10 gram
Currently, gold is hovering near the Rs 46,000-mark, down Rs 10,000 from the August 2020 peak
In the previous trade, the precious metal had closed at Rs 46,187 per 10 grams
For short term, one may seen some profit booking and gold may test Rs 45,000-44,000 levels, said experts.
In the previous trade, the precious metal had closed at Rs 47,508 per 10 grams