Gold prices today jumped to 55,000 from Rs 54,930 per 10 gram a day before, while silver jumped to Rs 68,700 from Rs 66,600 per kg, according to Good Returns website.
Gold jewellery prices v ary 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 jumped to Rs 50,400 per 10 gram, and in Chennai to Rs 49,720. In Mumbai, the rate was Rs 50,750, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 54,200 per 10 gm.
On MCX, October gold futures fell by 0.38 per cent to Rs 51,502 per 10 gram. Silver September futures stood at Rs 68,349 per kg.
Gold price rose by Rs 418 to Rs 52,963 per 10 grams in the national capital on Tuesday following a rally in the yellow metal in the international market, according to HDFC Securities.The precious metal had closed at Rs 52,545 per 10 grams in the previous trade.
Silver also attracted heavy buying interest as it jumped Rs 2,246 to Rs 72,793 per kilogram. It had closed at Rs 70,547 per kilogram on Monday.
"Spot gold prices for 24 carat in Delhi were higher by Rs 418 with rally in international prices. However, the upside in gold prices in India was capped with gains in rupee," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
In the global market, gold was trading with gains at $1,988 per ounce and silver was marginally up at USD 28.77 per ounce. "Gold prices extended gains with dollar decline," Patel said.