In the previous trade, the precious metal had closed at Rs 46,422 per 10 gram.
Silver also gained Rs 53 to Rs 67,460 per kg from Rs 67,407 per kg in the previous trade.
In the international market, gold was quoting higher at $1,764 per ounce and silver was flat at $25.87 per ounce.
“Gold prices rallied supported by dollar decline and fall in US bond yields,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services, “Gold traded higher to a more than one-month peak as US Treasury yields slipped despite better-than-expected US economic data, pushing investors to bullion as a refuge against possible inflation ahead.”