At the Multi Commodity Exchange, metal for delivery in December gained Rs 69, or 0.23 percent, to trade higher at Rs 29,704 per 10 gm in a turnover of 61 lots.
    
Similarly, the metal for delivery in October rose by Rs 54 or 0.18 percent, to Rs 29,841 per 10 gm, clocking a business volume of 1,095 lots.
        
The Federal Reserve begins a two-day policy meeting on Tuesday at which it is forecast to reduce the pace of its US bond buying. Globally, gold rose 0.20 percent to USD 1,315.53 an ounce in Singapore on Tuesday.

Silver futures recover 0.46 percent

Tracking a firming trend in precious metals overseas, silver futures prices recovered by 0.13 percent to Rs 49,897 per kg as speculators built up fresh positions.
    
At the Multi Commodity Exchange, Silver for delivery in December traded higher by Rs 65 or 0.13 percent, to Rs 49,897 per kg in business turnover of 777 lots.
    
On similar lines, the white metal for delivery in far-month March traded up by Rs 60, or 0.12 percent, to trade at Rs 50,977 per kg in a turnover of six lots.
    
In the international market, silver climbed 0.50 percent, to trade at USD 21.92 an ounce in Singapore on Tuesday.
    
Market analysts said gains in both the precious metals in the global market on speculation that policy makers will be less inclined to curb stimulus after former Treasury Secretary Lawrence Summers withdrew his bid to head the Federal Reserve, helped silver to trade higher at futures trade here.

(Agencies)

Latest News  from Business News Desk