Gold price today at Rs 50,620 per 10 gm, silver trending at Rs 69,200 a kg

Gold price on Tuesday jumped to Rs 50,620 for 10 gm from Rs 50,420 and silver price is trending at Rs 69,200 per kg, according to the Good Returns website.

Gold jewellery price varies across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making changes.

In New Delhi, the price of 22-carat gold is at Rs 46,400 per 10 gm, while in Chennai it fell to Rs 44,950. The rate in Mumbai was Rs 45,070 according to the website. The price of 24-carat gold in Chennai was Rs 49,030 per 10 gm.  

Gold rallied by Rs 411 to Rs 47,291 per 10 gram in the national capital on Monday reflecting strong buying in the global precious metal and rupee depreciation, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 46,880 per 10 gram. Silver also gained Rs 338 to Rs 68,335 per kilogram from Rs 67,997 per kilogram in the previous trade. The Indian rupee slumped 52 paise to 74.87 against the US dollar in opening trade on Monday.

In the international market, Gold retreated from a more than seven-week peak on Monday as U.S. Treasury yields gained, weighing on non-yielding bullion's appeal and countering support from a weaker dollar.

Spot gold fell 0.3% to $1,771.40 per ounce by 12:21 p.m. EDT (1621 GMT), after touching $1,789.77, the highest since Feb. 25.

U.S. gold futures shed 0.5% to $1,771.30. "We're still probably going to see gradual rise in U.S. interest rates along with gradual steepening of the yield curve and that should take some steam out of gold," said Daniel Ghali, TD Securities commodity strategist.

The benchmark 10-year yield rose above 1.6% after hitting a multi-week low last week. Bullion has shed more than 6% so far this year, mostly pressured by surging U.S. yields. But capping gold's declines was a weaker dollar, which slid to a more than six-week low against rivals.