Gold prices in the nation’s capital surged for the second day in a row on Tuesday, gaining ₹ 297 to ₹ 48,946 per 10 gram, in line with the rally in international precious metals prices, according to HDFC Securities.

In the previous trade, the precious metal closed at ₹ 48,649 per 10 grams.

Silver also gained ₹ 1,404 to ₹ 65,380 per kg, compared to ₹ 63,976 per kg in the previous trade.

In the international market, gold and silver were trading in the green at $ 1,858 per ounce and $ 25.39 per ounce, respectively.

Gold prices have gained momentum as investors have been cautious of rising coronavirus cases around the world. Revised pandemic fears have raised concerns about the economic recovery that has boosted bullion price purchases, ”said Tapan Patel, senior analyst at HDFC Securities (commodities).

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