Gold prices staged a recovery on Tuesday, climbing Rs 800 to reach Rs 1.63 lakh per 10 grams in the national capital, as optimism surrounding possible progress in US-Iran talks helped ease worries about inflationary pressures.
Market participants said gold of 99.9% purity increased by Rs 800 to Rs 1,63,600 per 10 grams, inclusive of taxes, compared with Monday’s closing price of Rs 1,62,800 per 10 grams.
Silver, however, witnessed a sharp decline. Prices fell by Rs 5,000 to Rs 2,71,000 per kilogram, inclusive of taxes, amid subdued industrial demand and weak cues from global markets.