In the previous trade, the precious metal had closed at Rs 47,500 per 10 gram.
Silver also witnessed increased demand as it jumped Rs 2,021 to Rs 73,122 per kilogram from Rs 71,101 per kilogram in the previous trade.
In the international market, gold was trading in the green at USD 1,869 per ounce, while silver was trading flat at USD 28.48 per ounce.
“Gold prices were supported by weaker dollar,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services said, “Gold continued to inch higher breaching the $1,850 level, rising to their highest in more than three months as a weaker US dollar and growing inflationary pressure lifted bullion’s appeal.”