Gold prices today climbed to Rs 53,670 from Rs 53,350 per 10 gm, while silver was trending at Rs 61,000 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 49,200 per 10 gm, and in Chennai, it climbed to Rs 48,340. In Mumbai, the rate was Rs 48,950, according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 52,730 per 10 gm.
On the MCX, October gold futures fell 0.55 per cent to Rs 50,404 per 10 gm, while silver December futures were at Rs 59,919 per kg.
Gold prices declined marginally by Rs 26 to Rs 51,372 per 10 gram in the national capital on Wednesday amid weak global prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 51,398 per 10 gram.
Silver prices also declined Rs 201 to Rs 62,241 per kilogram from Rs 62,442 per kilogram in the previous trade. "Spot gold prices for 24 carat in Delhi were down by Rs 26 on weak global prices and minor rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The rupee settled 10 paise higher at 73.76 (provisional) against the US dollar on Wednesday, supported by positive domestic equities.
In the international market, gold and silver were trading lower at USD 1,887 per ounce and $22.70 per ounce, respectively. Gold traded under pressure as prices pared previous gains on stronger dollar amid rising hopes for US stimulus package, Patel added.