Gold climbs Rs 250; silver rises Rs 100

New Delhi: Gold price climbed by Rs 250 to Rs 58,600 per 10 grams in the national capital on Tuesday amid strong global cues, according to HDFC Securities.

In the previous trade, the precious metal had closed at Rs 58,350 per 10 grams. Silver also gained Rs 100 to Rs 72,600 per kg. In the global markets, gold and silver were quoting higher at USD 1,858 per ounce and USD 21.75 per ounce, respectively.

"Gold held gains as conflict in the Middle East continued to support markets, while investors considered, whether tightening financial conditions may have reached a peak, following dovish commentary from Federal Reserve officials. "Meanwhile, US 10-year Treasury yields declined after dovish remarks from Fed officials and as tension in the Middle East drove a rush to safer assets," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.