Gold prices in the national capital on Monday rallied Rs 478 to Rs 49,519 per 10 grams, reflecting overnight gains in international precious metal prices and sharp rupee depreciation, according to HDFC Securities.

In the previous trade, the yellow metal settled at Rs 49,041 per 10 grams.

The Indian rupee declined 23 paise to settle at 75.59 against the US dollar on Monday.

Silver zoomed by Rs 932 to Rs 63,827 per kg, from Rs 62,895 per kg in the previous trade.

“Spot gold prices for 24 carat gold at Delhi rallied by Rs 478 reflecting overnight gains in COMEX gold prices and sharp rupee depreciation,” Tapan Patel, senior analyst (commodities) at HDFC Securities, said.

In the international market, gold was trading marginally lower at USD 1,857 per ounce and silver was flat at USD 23.02 per ounce.

“Gold prices traded marginal down with spot gold prices at COMEX were trading near USD 1,857 per ounce on Monday,” he added.