Gold rallied by ₹135 to ₹51,898 per 10 grams in the national capital on Thursday amid a rise in the price of the metal in the international market, according to HDFC Securities.

In the previous trade, the yellow metal had settled at ₹51,763 per 10 grams.

Silver, however, dropped by ₹250 to ₹61,618 per kg.

“Gold traded steady above the $1,680 level as market participants remain cautious ahead of the key US inflation report to gauge the pace of the Federal Reserve’s future interest rate hikes,” said Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services.

In the international market, gold was trading in the green at $1,709 per ounce while silver was flat at $21.05 per ounce.

“After registering a steep rise on Monday, the US gold has been consolidating for the last two trading sessions, amid uncertainty over the US mid-term elections and as markets awaited key inflation data from the country later in the day,” said Vinay Rajani, Research Analyst at HDFC Securities.