On MCX, August gold futures jumped 0.29 per cent to Rs 54,946 per 10 gram. Silver September futures was at Rs 75,394 per kg.
"Gold prices kept upside limited on Monday with rupee appreciation," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
The rupee settled with gains of 3 paise at 74.90 (provisional) against the US dollar on Monday, tracking positive domestic equities.vIn the international market, gold was quoting with marginal gains at $2,035 per ounce, while silver was trading flat at $28.31 per ounce.
This year, gold is the best performing traditional asset in the world. Its price just topped $2,000 an ounce for the first time. From serious investors to newly minted day traders, everyone is talking up its virtues.
A recent survey of 1,000 people found that one in six Americans bought gold or other precious metals
in the last three months, and about one in four were seriously thinking about it. On Robinhood, the popular online trading platform, the number of users holding two of its largest gold funds has tripled since January.