Gold price jumped by Rs 89 to Rs 56,126 per 10 gram in the national capital on Wednesday amid gains in rates of the precious metal globally, according to Securities. In the previous trade, the yellow metal had settled at Rs 56,037 per 10 gram.

Silver also rose Rs 677 to Rs 69,218 per kilogram.

“Spot gold prices in the Delhi markets traded at Rs 56,126 per 10 gram, up Rs 89 per 10 gram. Domestic market gold prices gain was capped by a stronger rupee,” said an analyst at HDFC Securities.

In the overseas market, gold was trading higher at USD 1,882.2 per ounce while silver was up at USD 23.88 per ounce.

Comex gold prices traded up in Asian hours on Wednesday, as buoyed by a weaker dollar and hopes of slower US rate hikes after the Fed Chair Jerome Powell failed to provide more clarity on tightening path at the central bank conference in Sweden held on Tuesday, the analyst said.

“After weaker than expected jobs data and lower wage inflation reported last week, focus is now on the US CPI data scheduled tomorrow which could signal Fed’s further stance in the meetings to come,” said Navneet Damani, Senior VP – Commodity Research at .