Gold prices today at Rs 53,790 per 10 gm, silver trends at Rs 62,000 a kg

The price of 22-carat gold remained at Rs 49,310 per 10 gm in New Delhi, while in Chennai it climbed to Rs 47,090

Gold prices today rose marginally to Rs 53,790 from Rs 53,780 per 10 gm, while silver was trending at Rs 62,000 per kg, according to the Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

In New Delhi the price of 22-carat gold remained at Rs 49,310 per 10 gm, while in Chennai it climbed to Rs 47,090. In Mumbai, the rate was Rs 46,700 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 50,950 per 10 gm. 

On the MCX, December gold futures climbed 0.45 per cent to Rs 50,913 per 10 gm, while silver December futures were at Rs 63,065 per kg. 

Gold prices in the national capital went down by Rs 268 to Rs 50,860 per 10 gm on Tuesday amid a decline in international prices of the precious metal, according to HDFC Securities. Silver also witnessed muted trend and tanked Rs 1,126 to Rs 62,189 per kg from Rs 63,315 per kg in the previous day's trade.

"Gold prices traded down as investors awaited the outcome of stimulus deadline of Tuesday," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

In the international market, Gold prices were stable on Tuesday, hovering above $1,900, as investors awaited indications whether a new US coronavirus stimulus package will be forthcoming before next month's presidential election.

Spot gold was steady at $1,904.26 an ounce at 1154 GMT. US gold futures eased 0.3 per cent to $1,906.80. The dollar index slipped 0.2 per cent against its rivals, lending support to gold by making the metal less expensive for holders of other currencies.

"Investors' focus is on the new aid package for the U.S. economy, whether it will be successfully placed before the election," said Commerzbank analyst Eugen Weinberg. "The U.S. election is itself very important. The market is also (evaluating the) chances of each candidate and its impact on monetary policy going forward."