The outlook for recovery was also clouded after data on Monday showed contracts to purchase previously owned U.S. homes fell for a second straight month in October, while activity at factories in the Midwest and Texas slowed down in November.
MCX gold futures rose 0.36% or Rs 172 to Rs 48,090 per 10 grams. Silver futures rose 1.27% from Rs 763 to Rs 60,985 per kg.
On the spot market, gold fell slightly from Rs 43 to Rs 48,142 per 10 grams on Friday in the national capital, according to HDFC Securities. The money also fell from 36 rupees to 59,250 rupees per kg.
Globally, gold edged up on Tuesday as investors weighed in optimism over the prospects of a Covid-19 vaccine against a spike in infections and possible restrictive measures to tackle the pandemic that risk derail a rapid global economic recovery.
Spot gold rose 0.1 percent to $ 1,778.76 an ounce at 12:49 a.m. GMT, while US gold futures were little changed at $ 1,780.50.
Falling costs to renew US gold futures suggest market is moving closer to normal trading after crisis caused by Covid-19 increased investor overheads, held back activity and channeled massive profits to investment banks.
Silver gained 0.2% to $ 22.64 an ounce, while platinum was up 0.4% to $ 968.78 and palladium was down 0.1% to $ 2,370.63.
