New Delhi, Jun 1 (PTI) After a long gap, spot gold markets in the national capital re-opened on Monday but the benchmark rate for the yellow metal is yet to be decided, according to HDFC Securities.

The spot gold markets remain closed in the wake of the nationwide lockdown imposed since March 25 to curb spreading of COVID-19 infections. Lockdown restrictions have now been eased.

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"Spot gold markets in India have shown signs of reopening on Monday with several shops opening at Delhi sarafa market," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

Patel added the market has opened but price fixing rates are not coming. Market fixing rates are the spot rates traders use as a benchmark to sell gold to retail customers. In the international market, gold was trading with gains at USD 1,742 per ounce and silver at USD 18.32 per ounce.

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Gold prices continued upside despite positive equity indices as investors remained cautious over the US-China tensions and concerns over economic recovery, he added.

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