Spot gold rose to a session high of $1,074.34 an ounce, before giving up some gains to trade up 0.7 percent at $1,071.40 by 0319 GMT. It had gained 0.5 percent on Monday.
The market has opened in green as investors keep a keen eye on RBI credit policy review and November auto sales data. The Sensex is up 50.76 points or 0.2 percent at 26196.43 and the Nifty is up 22.90 points or 0.3 percent at 7958.15. About 527 shares have advanced, 106 shares declined, and 35 shares are unchanged.
The Indian rupee gained in the early trade. It has opened higher by 14 paise at 66.53 per dollar versus 66.67 yesterday.
US stocks slipped on Monday, led by declines in health and consumer shares, as investors braced for policy news from central banks.
A federal jury in Manhattan found Silver, 71, guilty of all seven counts he faced, including fraud, extortion and money laundering, following a three-week trial.
A litre of diesel will cost Rs 46.55 from today compared with the Rs 46.80 now, said Indian Oil Corporation (IOC), the nation's biggest fuel retailer.
The price of petrol was cut by 58 paise per litre and that of diesel by 25 paise, reversing the trend of increasing rates, on global cues. Petrol will cost Rs 60.48 per litre from mid-night tonight in Delhi as against Rs 61.06 (rpt) 61.06 a litre currently.